The Most Efficient Way to Expand an Organization's Scope Is

question 79

Multiple Choice

The most efficient way to expand an organization's scope is:

• A)to introduce new products or services into new or existing markets without increasing production facilities or staff.
• B)by increasing the size or scale of the business.
• C)by expanding the firm's appeal to a new set of customers.
• D)to buy a company with complementary products or services.

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Definitions:

Productive Economic Resource

Assets or inputs used in the production of goods and services, including land, labor, capital, and entrepreneurship.

Entrepreneurship

The activity of setting up a business or businesses, taking on financial risks in the hope of profit.

Use Of Money

The various purposes for which money is used in an economy, including spending, saving, and investing.

Interest Rates

The percentage charged on borrowed money or paid on savings, essentially the cost of borrowing or the reward for saving.