It Makes Sense for a Firm to Produce Where It

question 117

True/False

It makes sense for a firm to produce where it can produce most economically-if the cost of transporting and storing products to match demand doesn't offset the production savings.

---

Definitions:

Concept

A symbol that represents a class of objects or events with common characteristics.

Phoneme

A phoneme is the smallest unit of sound in a language that can distinguish one word from another, such as the difference between the 'p' and 'b' sounds in "pad" and "bad".

Association

The linkage of two events, usually as the result of a specific experience.

Positive Explanatory Styles

A cognitive approach characterized by attributing positive events to stable, global, and internal factors, and negative events to unstable, specific, and external factors.