The Term "Economies of Scale" Means That

question 305

Multiple Choice

The term "economies of scale" means that:

• A) The largest producers are always the most efficient.
• B) The cost of a product goes down as a company produces larger numbers of it.
• C) The more one produces, the greater the profit.
• D) It is more efficient for an economy to have a large number of transactions.
• E) None of the above.

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Definitions:

First-Line Supervisor

A management position responsible for overseeing the day-to-day performance of entry-level employees.

True Self-Managing Work Team

A team that operates without direct supervision, managing its own processes and tasks to achieve set objectives.

Selecting New Team Members

The process of evaluating and choosing individuals to form or join a team based on skills, compatibility, and potential contributions.

Evaluating Performance

The process of assessing the effectiveness and efficiency of an individual's or organization's work outcomes and methods.