When an Organization Can Use the Same Physical Resources for Multiple

question 5

Multiple Choice

When an organization can use the same physical resources for multiple purposes,it is taking advantage of:

• A)Intangible relatedness
• B)Tangible relatedness
• C)Limited scope
• D)Dominant industry relationships
• E)Goodwill

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Definitions:

Production Technology

Refers to the methods, equipment, and software used to produce goods and services.

Firms' Costs

The expenses incurred by businesses in the production of goods or services, including labor, materials, and overhead costs.

Quantity Supplied

The extent of a good or service that merchants are willing and have the capacity to offer at a pre-determined price.

Supply Curve

A graphical representation showing the relationship between the price of a good or service and the quantity of that good or service suppliers are willing to offer for sale at various prices.