As a Firm Gets More Experience,it Can Often Work with Fewer

question 1

Multiple Choice

As a firm gets more experience,it can often work with fewer mistakes and greater efficiencies,thereby lowering costs.This leads to the cost benefit of _____.

• A) personalization
• B) scope savings
• C) learning
• D) altruism

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Definitions:

Departments

Departments refer to distinct segments within an organization, each with specific responsibilities and roles, meant to streamline operations and improve efficiency.

Expenses

Costs incurred by a business in the process of earning revenue.

Indirect Costs

Costs that are not directly traceable to a specific product or service but are necessary for the operation of a business, such as overhead expenses.

Apportion

To divide and allocate proportions or shares of a total amount among different entities based on a set criteria or formula.