What Is the Difference Between Economies of Scale and Economies

question 133

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) None of these.Scale and scope mean the same thing and the only difference is the extent to which they have some use-value.

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Definitions:

Ethnography

A qualitative research method focusing on the systematic study of people and cultures from the insider perspective.

Interviews

A method of data collection or employment selection involving a conversation between two or more people, where questions are asked to obtain information from the interviewee.

One-On-One Interaction

Direct, personal communication between two individuals, often used in marketing to tailor the experience to the customer's specific needs or preferences.

Consumer Participants

Individuals who actively engage in the marketplace by purchasing, using, and providing feedback on goods and services.