Walmart Is Able to Order Huge Quantities of Shovels and Rakes

question 251

Multiple Choice

Walmart is able to order huge quantities of shovels and rakes at very low prices from many different factories in China as it opens more stores. This BEST represents

• A) short-run economies of scale.
• B) long-run diseconomies of scale.
• C) economies of scope.
• D) long-run economies of scale.

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Definitions:

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The distinct attributes or traits that define an individual's personality and behavior.

Labor Union

An organization of workers formed to protect and advance their rights and interests.

Negotiated Wage

The result of collective bargaining between employers and employees (or their representatives), resulting in agreed-upon salaries.

Widget Industry

A generic term often used to refer to any industry producing unspecified or hypothetical products for illustrative examples in discussions.