If a Company Is Able to Use One Set of Inputs

question 88

Multiple Choice

If a company is able to use one set of inputs to produce a wider range of products and services,what is this ability called?

• A)economies of scale
• B)economy of advantage
• C)economy of scope
• D)economies of productivity

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Definitions:

Diabetic Chronic Kidney Disease

A long-term kidney condition characterized by decreased kidney function that occurs as a complication of diabetes.

Diabetes Mellitus

A chronic systemic disease that causes the body to improperly metabolize carbohydrates, proteins, and fats.

Type 1

Often referring to Type 1 diabetes, an autoimmune condition where the pancreas produces little or no insulin.

Renal Calculi

Also known as kidney stones, these are hard deposits made of minerals and salts that form inside the kidneys and can cause pain and urinary problems.