Aristotle Conceives of a Virtue as

question 18

Multiple Choice

Aristotle conceives of a virtue as

• A) a capacity.
• B) an ability.
• C) an activity.
• D) a state of character.

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Definitions:

Economies Of Scale

Cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.

Decreasing Returns To Scale

See Diseconomies of scale.

Economies Of Scope

Exist when the cost of producing two products jointly is less than the cost of producing those two products separately.

Economies Of Scope

Describes cost advantages that businesses experience when they increase the variety of goods or services they offer, utilizing shared operations or resources.