Enumerate the difference between Economies of scale and
economies of scope. Explain how organizations achieve economies of
scope. Provide real world examples of the organizations who have
successfully
Answers
Economies of scale and economies of scope are two concepts related to cost efficiency and productivity in organizations.
Economies of Scale:
Economies of scale refer to cost advantages that organizations can achieve as they increase the scale or size of their operations. This occurs when the average cost per unit decreases as the volume of production increases. Larger organizations can benefit from economies of scale by spreading fixed costs over a larger output and taking advantage of bulk purchasing, specialized machinery, and efficient production processes.
Example: Walmart is a prime example of an organization that has successfully achieved economies of scale. By operating a vast network of stores and having significant purchasing power, Walmart can negotiate better prices from suppliers, optimize distribution channels, and reduce per-unit costs. This enables them to offer competitive pricing to customers while maintaining profitability.
Economies of Scope:
Economies of scope arise when organizations can produce multiple products or services together at a lower cost than if they were produced separately. This is achieved through shared resources, technologies, and expertise. By diversifying their offerings, organizations can leverage synergies and reduce costs.
Example: Procter & Gamble (P&G) is known for its success in achieving economies of scope. P&G produces a wide range of consumer goods, including cleaning products, personal care items, and baby care products. By sharing distribution networks, research and development capabilities, and marketing efforts across its diverse product lines, P&G achieves cost efficiencies and enhances its competitive advantage.
Organizations can achieve economies of scope by integrating their operations, streamlining processes, sharing resources, and leveraging synergies between different product lines or services.
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Related Questions
You are ordering $210 of goods from a vendor. The vendor offers a 3% (only
on the goods) discount if you pay your bill in 30 days. Assume that you will
take advantage of this discount. Shipping is $12.95. What is the total
amount of this order?
Answers
Answer:
$216,65
Explanation:
$210(price for the goods) * 0,03(3% discount) = $6,3(amount of the discount)
$210(price for the goods) - $6,3(amount of the discount) = $203,7(total amount without shipping)
$203,7(total amount without shipping) + $12,95(shipping) = $216,65(total amount)
for the periodic review inventory model presented in the textbook, it is assumed that a special replenishment order will be placed in the event of a stock-out between review points. true false
Answers
The statement that in the event of a stock-out between review points, a special replenishment order will be made, is false.
Define stock-out.A stock out, or out-of-stock, situation is when inventory runs out for some reason. Retail out-of-stocks in the swiftly moving consumer products industry are the most noticeable, even though they can occur everywhere in the supply chain. The reverse of stock outs are overstocks, where an excessive amount of a product is kept on hand.
Resupply orders include reordering previously acquired goods to fulfill demand. The "Review Point" is the term used to describe the Council's yearly opening of the Rolling Select List, invitation to service providers to submit charges, and opening of the Rolling Select List to new service providers.
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Rashad doesn't want to spend time organizing his personal financial records. His spouse, Minos, thinks it is worth spending the time to get organized. What should Minos tell Rashad to convince him that organizing personal financial records is beneficial? OA It will be easier to manage daily business activities such as paying bills. OB. People who organize their personal financial records generally do not have to file taxes. OC They cannot lose money on investments as long as they keep good records. OD. Most banks offer a yearly cash bonus if clients have organized financial records.
Answers
What Minos should tell Rashad to convince him that organizing personal financial records is beneficial is: A It will be easier to manage daily business activities such as paying bills.
To convince her spouse of the importance of organizing personal financial records, Minos should tell Rashad that organization will help him to coordinate his daily business activities better.
He will not be at a loss of the whereabouts of his financial data.
Therefore, option A is right.
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science week1 qarter4 grade 8
Answers
Answer:
Explanation:
444
Perfectly competitive markets are economically efficient in the long run, partly because Select one: a. entry barriers enable such firms to invest in high-return capital projects. b. firms in these industries produce an output where the price is equal to the minimum average variable cost. c. the price consumers are willing to pay for the last unit just equals the cost of having to produce that additional unit. d. entry and exit guarantees a positive long-run profit above average total cost for each firm.
Answers
Answer:
C
Explanation:
A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero. Also, firms produce at the minimum of the average total cost curve. price equal marginal cost and marginal revenue
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
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Calculate how many hours his non-salary employees will take to create a large order of 1,000 shoes. What kind of budget would Jose create?
Answers
This question is incomplete but will answer this based on what I guess you're asking.
Answer and Explanation:
Assume there are 10 employees for the small factory that makes shoes.
Let's assume each non-salary employee spends 30 minutes on each pair of shoes before it finishes, and charges $10 per hour.
1000 pairs of shoes would take 1000×0.5×10= 5000 hours(208 days and a few hours)
Total budget for non-salary employees= 5000 hrs×$10= $50000
Therefore Jose would need a $50000 budget given the variables above.
broadtred, inc. makes automobile tires that have a mean life of 50,000 miles with a standard deviation of 2,500 miles. using excel functions (see chapter 6), determine the following:
Answers
To determine the following values using Excel functions, given that Broadtred, Inc. makes automobile tires that have a mean life of 50,000 miles with a standard deviation of 2,500 miles.
We can proceed as follows:Probability of getting a tire lasting less than 47,000 miles. To calculate the probability of getting a tire lasting less than 47,000 miles, we need to use the standard normal distribution, which has a mean of 0 and a standard deviation of 1. To convert the given values into the standard normal distribution, we can use the formula Z = (X - μ) / σwhere Z is the standardized value of the random variable X, μ is the mean of X, and σ is the standard deviation of X. Substituting the given values, we get Z = (47,000 - 50,000) / 2,500 = -1.20.
Using the Excel function NORMSDIST(-1.20), we get the value 0.1151. Therefore, the probability of getting a tire lasting less than 47,000 miles is 0.1151. Probability of getting a tire lasting between 47,000 and 53,000 miles. To calculate the probability of getting a tire lasting between 47,000 and 53,000 miles, we need to use the formula Z = (X - μ) / σ as before.
For the lower limit, we have Z1 = (47,000 - 50,000) / 2,500 = -1.20. For the upper limit, we have Z2 = (53,000 - 50,000) / 2,500 = 1.20.Using the Excel function NORMSDIST(1.20) - NORMSDIST(-1.20), we get the value 0.6870. Therefore, the probability of getting a tire lasting between 47,000 and 53,000 miles is 0.6870.Value below which 20% of the tires fail.
To find the value below which 20% of the tires fail, we need to find the corresponding Z-value for the cumulative probability of 0.20.
Using the Excel function NORMSINV(0.20), we get the value -0.84.Using the formula Z = (X - μ) / σ and substituting the given values, we can find the value of X as X = Zσ + μ = -0.84 × 2,500 + 50,000 = 47,900.
Therefore, the value below which 20% of the tires fail is 47,900 miles.
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Select the response that corrects the capitalization error in the sentence below. I live in Kentwood, louisiana. a. i b. kentwood c. Louisiana Please select the best answer from the choices provided A B C
Answers
Answer:
a) I
Explanation:
The letter I continues to be capitalized because it is the only single letter pronoun. Because the pronouns I and me have different uses, it's easy to distinguish between the two in terms of capitalization rules.
employees rarely arrive and leave exactly on the quarter hour so it would make sense to round employee arrival times to the nearest quarter hour?
A. False
B. True
Please be right
Answers
Read the excerpt from It's Our World, Too!: Young People Who Are Making a Difference.
Andy Percifield had been busy, too. There were only two days before the next game. He was determined that his school would do the right thing, no matter what the principal said. He had an idea: maybe the students themselves could write a letter against racism that could be read over the microphone in the press box to everyone at the game. It would have to be powerful enough to satisfy the protesting players and shame the racist fans.
Which statement best describes how Andy has been affected by the conflict?
Answers
Hello. You forgot to show the answer options. The options are:
Andy has lost his faith in the system after talking to the principal and he has decided to act on his own.
Andy has become very angry about the racist fans and he will put an end to their comments no matter what.
Andy is intent on making a change for the better and putting an end to the racist comments coming from the racist fans.
Andy feels bad for the protesting players, but he does not want to get too involved in other people’s problems.
Answer:
Andy is intent on making a change for the better and putting an end to the racist comments coming from the racist fans.
Explanation:
Racism is the conflict that is bothering Andy, affecting him to the point of looking for a way to diminish racist comments and even prevent them from happening. In summary, we can say that the conflict causes Andy to look for changes in his schools, suppressing racism and promoting a more comfortable and fair environment for all students.
Answer:
I think it is:
C. Andy is intent on making a change for the better and putting an end to the racist comments coming from the racist fans.
Explanation:
Well balanced people are more productive employees.
Please select the best answer from the choices provided
ОТ
OF
Answers
Answer:
True
Explanation:
Well adjusted individuals are workers who are more efficient. They often begin with targets.
They've got a long-term target. They provide quick priorities that endorse their lengthy objectives. Oriented still set their targets first.
During the two years he has been working, Jeffrey has saved some money to buy a house. His parents have agreed to loan him part of the down payment, and he has started to look for a house he can afford. He discovered a great house that has two apartments in it. He has looked at all the information carefully, done his budget, and thinks he can afford the house because he will live in only part of it and will rent out the other half. If Jeffrey buys this house, lives in the apartment upstairs and rents out the apartment downstairs, which of the following is true?
Answers
Answer:
you have to give "the following"
A business owned by only one person is called a____
A - corporation
B - sole proprietorship
C - partnership
D - limited liability company
Answers
B - sole proprietorship
what is a business plan
Answers
Answer:
a document setting out a business's future objectives and strategies for achieving them
Explanation:
Tim is 16 years old,a high school student, and lives with hi parents.He earned $5,200 and his part-time job. Select the best possible answer.(Only 1 answer)
Answers
Answer:
the second one
Explanation:
prettyu sure,
only can claim is tim parents and he has no other choice but to return the file tax return
Current tax laws allow Tim's parents to claim Tim as a dependent; Tim has the option to file a tax return
According to the IRS, Tim can be claimed as a dependent by his parents because:
He is their son He is a student who is younger than 23 He lives with his parentsHe also has the option but not the obligation to file a tax return because his gross income is less than $12,200 as a dependent.
In conclusion, Tim can be claimed as a dependent by his parents but he does not have to file a tax return.
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For an economy as a whole, income must equal expenditure because.
Answers
Income must equal expenditure because for an economy because :
Every transaction has a buyer and seller.Every dollar of spending by some buyer is a dollar of income for some seller.What is Aggregate income?Aggregate income is a form of GDP whereby income is equal to Consumption expenditure including net profits. It refers to the value of all income that suppliers of production factors receives over a specified period.
In an economy, income must equal expenditure because for every transaction, there must be a buyer and a seller. This is because every economy must have this cycle so that there will be balanced receipts and payment.
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what do the phrases "put something on the back burner," "stir the pot," and "give birth to a plan" reflect about organizations?
Answers
All of the languages and the phrases based on the way they are used refers to feminine language.
How does these words have to do with feminine?
The words are mostly about the activities that are known to be more associated with women.
Cooking is a chore for women. Also they are the ones that birth babies. Hence the correct answer is feminine language.
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order for bubbles to occur, expectations of a price increase usually _____ demand ______ supply
Answers
Answer:
Increases decreases
Explanation:
I might be wrong I'm guessing sorry
Ruth has been helping a professor with research where they have people perform a boring task and give them either $1 or $20 to lie and tell someone the task is interesting, which recreates earlier research. The participants who were only paid $1 rating the task as more interesting than the participants who were paid much more. What is the experiment ruth is helping with testing?.
Answers
Answer: Correct answer. Cognitive dissonance
Explanation:
The experiment ruth is helping with testing is Cognitive dissonance. When people take part in an action that contradicts one or more of those things, they frequently suffer cognitive dissonance as psychological discomfort.
What is Research?Research is defined as "creative and methodical activity done to improve the body of knowledge." It entails the objective gathering, organizing, and analysis of data in order to improve comprehension of a subject or issue.
When a person's action conflicts with their ideas or beliefs, they experience cognitive dissonance, which can be uncomfortable. It can also happen when a person simultaneously maintains two opposing views. It is not a disease or illness to have cognitive dissonance. It is a psychological occurrence that anyone can experience.
Therefore, Ruth is experiencing cognitive dissonance experiment.
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Which kind of map would be most helpful to use when studying watersheds?a road mapa political mapa topographic map
Answers
Answer:
Topographic map
Explanation:
Topographic maps show the arrangement of the physical features of an area of the Earth; Such as mountains, valleys, plains, and bodies of water ( above sea level).
Investors minimize risk by investing money in __________. A. one specific company B. a variety of companies C. newly-formed corporations D. companies that are competitors Please select the best answer from the choices provided A B C D
Answers
Answer: B. a variety of companies
Explanation:
Investors minimize risk by investing money in a variety of companies. The reason for this is to minimize risk. Investing in one specific company isn't ideal because in the case of the company running at a loss, the investor loses all his or her money as well.
On the other hand, when the investor invest in different companies, the risk is minimized. When one company isn't doing well, others will probably be doing well.
What are the functions of money?
A. A measure of debt
B. A storehouse of value
C. A form of bartering
D. A unit of account
E. A medium of exchange
Answers
Answer:
E,C, and D, and B
Explanation:
The functions of money are- a measure of debt, a storehouse of value, a unit of account, and a medium of exchange. Thus all the options except C are the functions of money.
What is money?Money is any item or verifiable record that is widely accepted in a particular country or socio-economic context as payment for goods and services and repayment of debts, such as taxes.
Money serves as a medium of exchange, a unit of account, a store of value, and, in some cases, a standard of deferred payment. Money was historically an emerging market phenomenon with intrinsic commodity value.
Its value is derived as a result of social convention, having been declared legal tender by a government or regulatory entity; that is, it must be accepted as a form of payment within the borders of the country, for "all debts, public and private."
Therefore, options A, B,D, and E are the functions of money.
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Which of the following influences the price elasticity of demand?
1. percentage of a consumer's budget
2. amount of time available to adjust to price changes
3. number and availability of substitutes
4. all of the above
-
thank you!!
Answers
Explanation:
1. percentage of a consumer's budget
The given factor that determines the price elasticity of demand is 3. number and availability of substitutes.
What determines price elasticity of demand?The price elasticity of demand refers to how much demand can change as a result of a change in price.
If a good has several available substitutes, it would have a higher price elasticity of demand because people who switch to other products if prices rise.
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The Harris Company purchased equipment for $15,000 on December 1. It is estimated that annual depreciation on the computer will be $3,000. If financial statements are to be prepared on December 31, the company should make the following adjusting entry
Answers
The entry will include Depreciation Expenses for $1,750 and Accumulated Depreciation for $1,750
Here, we are to first calculate the Depreciation expenses while observing that the date runs for 1 month (From December 2 - December 31).
The depreciation expense will equals Annual depreciation of computer * 1/12
Depreciation expense = $3,000 * 1/12
Depreciation expense = $250
The adjusting entry will entails:
Date Account titles and explanation Debit Credit
31 Dec Depreciation expenses $250
Accumulated depreciation $250
(Entry to record depreciation expenses)
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What are the types of partnership and examples of each?
Answers
Answer:
here you go
Explanation:
Types of partnerships
General partnership. A general partnership is the most basic form of partnership. ...Limited partnership. Limited partnerships (LPs) are formal business entities authorized by the state. ...Limited liability partnership. ...Limited liability limited partnership
african americans are part of every economic group in the united states. group of answer choices true false
Answers
True. African Americans are part of every economic group in the United States. This means that they are represented in every income level, from the wealthiest to the poorest.
However, it is important to note that African Americans have historically faced systemic barriers that have made it more difficult for them to achieve economic success, such as discrimination in employment, housing, and education. Despite these obstacles, many African Americans have been able to achieve economic success through hard work and perseverance. Some have even become successful entrepreneurs and business owners, creating jobs and contributing to the economy. It is also important to recognize that there is still a significant racial wealth gap in the United States, with African Americans on average having less wealth and fewer assets than white Americans. This is a result of historical and ongoing discrimination, as well as other factors such as the lack of access to affordable housing and quality education. Overall, while African Americans are represented in every economic group in the United States, there is still work to be done to ensure that everyone has equal access to economic opportunity and prosperity.
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Jim had a very good quarter at his car lot with net sales reaching just over $456,000. This created a net income of $195,000. If Jim’s operating expenses last quarter were $23,000, what was his gross profit margin?
A. 5.0%
B. 37.7%
C. 42.8%
D. 47.8%
Answers
Answer:
d. 47.8%
Explanation:
i took the test
47.8% was Jim's gross profit margin. The correct option is D.
What is a good general profit margin?Although net profit margins differ by industry, the Corporate Finance Institute states that 20% is good, 10% is average or standard, and 5% is low or poor. Companies can pay their expenses and make a profit when their profit margins are high.
Given
Net Sales = $456,000
Net Profit = $195,000
Expenses = $23,000
Required to Calculate Gross Profit Margin here =?
Gross Profit Margin = Gross Profit x 100 / Net sales
Gross Profit = Net Profit + Operating Expenses
= 195,000 + 23,000 = $218,000
Gross Profit Margin = 218000 x 100 / 456000 = 47.8%
Net sales less cost of goods sold is how the analytical metric known as the gross profit margin is expressed for a business (COGS). The gross profit as a percentage of net sales is known as the gross profit margin. 47.8% was the gross profit margin.
Thus, the ideal selection is option D.
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What term is used to identify a form of outsourcing in which services are provided by an organization whose employees are in a foreign country?.
Answers
Offshoring is the term used to identify a form of outsourcing in which services are provided by an organization whose employees are in a foreign country.
What is the meaning of Off-Shoring?Offshoring is the procedure by which a commercial operation, including manufacturing, or a supporting operation, such as accountancy, from one nation to another. Offshoring is typically associated with a corporation, though individual states may also use it.
Offshoring is the process of moving operations or ownership of an entire operation to a nation other than the one (or nations) in which the company requesting the services is based.
Offshoring is the process of outsourcing operations abroad, typically by businesses from rich nations to less developed nations, to lower operating costs.
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help me please please
Answers
Answer:
A). compound interest
Explanation:
Hope that helped you :)
Answer:
Simple interest
Explanation:
I believe it's simple interest
In
, people invest money in a company in exchange for the company’s
.
Answers
Answer:
In equity crowdfunding, people invest money in a company in exchange for the company’s shares
Explanation:
Equity crowdfunding is the process in which people invest in start up companies and early stage companies that have not been listed on a stock market in exchange for shares in that company. As a result of the investment, the person becomes a shareholder and makes profit when the company do well but if the company fails, shareholders make losses.
Startups and early-stage companies use this method to raise capital.