What Is the Difference Between Economies of Scale and Economies

question 37

Multiple Choice

What is the difference between economies of scale and economies of scope?

• A)Scale refers to the magnitude or size of the operation, while scope refers to the reach of defined savings within the value chain.
• B)Scale refers to the extent of change, while scope refers to the possibilities of change.
• C)Scale is about dimensions, while scope is about the capacity available for production capabilities.
• D)Scale refers to cost savings that accrue directly from larger-sized operations, while scope stems directly from strategic fit along the value chains of related businesses.
• E)Scale and scope mean the same thing and the only difference is the extent of cost savings accrued from unrelated businesses in each.

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Definitions:

Polygenetic Factors

Traits or conditions that are influenced by multiple genes rather than a single gene.

SAT Scores

Numeric measures used in the United States to assess a student's readiness for college, derived from the Scholastic Assessment Test.

Longitudinal Study

A research design that involves repeated observations of the same variables (e.g., people) over short or long periods of time.

Factor Analysis

A statistical method used to describe variability among observed, correlated variables in terms of a potentially lower number of unobserved variables called factors.