UESTION 17 What is the difference between economies of scale

UESTION 17 What is the difference between economies of scale and economies of scope? o a Scale refers to the magnitude or size of the operation, while scope refers to the reach of O b. Scale refers to the extent of change, while scope refers to the possibilities of change O c Scale is about dimensions, while scope is about the capacity available for production capabilities. O d Scale refers to cost savings that accrue directly from larger-sized operations, while scope stems directly within the value chain. from strategic fit along the value chains of related businesses. O e. None of these. Scale and scope mean the same thing and the only difference is the extent to which they have some use-value ESTION 18 Business ethics concerns O a developing a consensus among companies worldwide as to what ethical principles that businesses should be expected to observe in the course of conducting their operations O b. what ethical behaviors should be expected of company personnel in the course of doing their jobs. O c. the application of general ethical principles and standards to the actions and decisions of companies and the behavior of company personnel O d developing a special set of ethical standards for businesses to observe in conducting their affairs o e picking and choosing among the consensus ethical standards of society to arrive at a set of ethical standards that apply directly to operating a business

Solution

17) The correct answer is d

Explanation:- Economies of scale is the cost savings that result when goods and services are produced in large volume on automated production lines. Economies of scope, stem directly from resource sharing, facilitated by strategic fit along the value chains of related businesses.

18) The correct answer is C

Explanation:- Business ethics is the application of general ethical principles to the actions and decisions of businesses and the conduct of their personnel.