The Ability to Rapidly and Inexpensively Switch Production from One

question 5

Multiple Choice

The ability to rapidly and inexpensively switch production from one product to another enables what are sometimes referred to as?

• A) Economies of scale
• B) Economies of size
• C) Economies of shape
• D) Economies of scope
• E) Economies of shipping

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Definitions:

Energy Disperses

A concept in thermodynamics and statistical mechanics where energy spreads out from a localized state to a more widespread and even distribution.

Desertification

Conversion of grassland or woodland to desert.

Periodic Drought

A recurring phenomenon where an area experiences significantly lower than normal precipitation over an extended period, leading to water scarcity.