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:

Dred Scott

An enslaved African American man who sued for his freedom in a landmark case, Dred Scott v. Sandford (1857), leading to a controversial Supreme Court decision that increased tensions leading up to the Civil War.

U.S. Supreme Court

The highest court in the United States, responsible for interpreting the Constitution and reviewing cases that involve federal law or constitutional issues.

Constitutional Unionist Candidate

A candidate representing the Constitutional Union Party, a political party in the United States formed in 1860 that sought to avoid secession by appealing to voters who wanted to keep the Union together without addressing the issue of slavery.

John Bell

A 19th-century American politician who was the Constitutional Union Party candidate for the 1860 presidential election.