The Process Which Increases the Efficiency of Necessary Activities by Using

question 28

Multiple Choice

The process which increases the efficiency of necessary activities by using economies of scale is called:

• A)Activity elimination
• B)Activity sharing
• C)Activity selection
• D)Activity reduction

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Definitions:

GDP

Gross Domestic Product, the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.

Cartel

An agreement among competing firms to control prices or production, typically to reduce competition and increase profits illegally or unethically.

Cost-Plus Pricing

A pricing strategy where the selling price is determined by adding a specific markup to a product's cost.

Multiproduct Pricing

Pricing strategies adopted by companies that sell multiple products and seek to maximize overall profits by considering cross-product price elasticity and cost structures.