What is the meaning of economics of scope

Reference no: EM131842861

Question: 1) How important is saving for a household and the economy? How much should be saved?

2) Discuss how e-commerce affects you and/or your company.

3) Comment on the following statement: "A company should produce and sell any product as long as there is a market for it."

4) What is meant by the closed and open innovation models? Provide examples in your discussion.

5) As an employer wants to reduce the production cost during the economic recession, he/she could choose to (1) lay off some workers without changing wages or (2) keep all workers but cut wages for all. Which method would you choose? Why?

6) What is the meaning of economics of scope? How do they differ from economics of scale? Provide examples in your discussion.

Reference no: EM131842861

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