When the Value of the Products or Services a Firm

question 68

Multiple Choice

When the value of the products or services a firm sells increases as a function of the number of business that the firm operates in, ________ are said to exist.

• A) economies of scope
• B) vertical economies
• C) economies of scale
• D) diseconomies of scope

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Definitions:

Arbitrary Rules

Regulations or principles set without any logical basis, often relying on personal decisions rather than a systematic process.

Sociodramatic Play

A type of play that involves acting out roles and scenarios, often reflecting real-life situations, which helps children develop social and communication skills.

Rule-based Play

A form of play that involves following specific guidelines or rules established by the participants or by the game itself.

Conventional

Adhering to accepted standards or norms in behavior, practices, or attitudes within a society or group.