Three Students-Bernardo, Astrid, and Rajiv-Are Discussing How to Improve Efficiency

question 71

Multiple Choice

Three students-Bernardo, Astrid, and Rajiv-are discussing how to improve efficiency in a manufacturing context. Bernardo says that the company must work toward achieving lower costs per unit of production. Rajiv believes that the company should use the same resources to make more related products. Astrid holds that avoiding the costs of growing too large and creating waste will improve efficiency. Bernardo, by saying that the company must work toward achieving lower costs per unit of production, is advocating for

• A)diseconomies of scale.
• B)diseconomies of scope.
• C)economies of scale.
• D)economies of scope.
• E)economies of size.

Appreciate the ethical responsibilities involved in conducting and presenting research.

Understand the use of different internet research tools and their categorization.

Develop insights on how to evaluate information sources for credibility and relevance.

Understand the concept of search engine optimization and its importance for website ranking.

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Definitions:

The Wealth of Nations

A seminal book by Adam Smith, regarded as the foundation of modern economic theory, which analyzes the nature and causes of the wealth of nations.

Trade

Trade is the action of buying, selling, or exchanging goods and services between people, companies, or countries.

Competition

The rivalry among sellers trying to achieve goals such as increasing profits, market share, and sales volume by varying the elements of the marketing mix: price, product, promotion, and place.

Bulgaria

A country located in Southeast Europe known for its rich history, cultural heritage, and geographical diversity.