Which of the Following Is a Suitable Description of the Term

question 42

Multiple Choice

Which of the following is a suitable description of the term 'economies of scope'?

• A)the use of several inputs to produce one common output
• B)the ability to generate cost savings by producing more than one output with the same inputs
• C)the ability to lower average operating costs by expanding its output of financial services
• D)the ability to lower average operating costs by lowering its output of financial services

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Definitions:

Stimulus Generalization

The process by which a response that has been learned to one stimulus is also elicited by similar, but not identical, stimuli.

Stimulus Generalization

A process in conditioning where a response to a specific stimulus becomes associated with other stimuli that are similar to the original stimulus.

Poisonous Frog

A type of frog that secretes toxins through its skin as a defense mechanism against predators.

Classical Conditioning

A learning mechanism whereby two stimuli are regularly connected; the reaction, first triggered by the second stimulus, ends up being triggered by the first stimulus only.