Question

_____ is narrower in scope than cost analysis

A Supply analysis
B Production analysis
C Demand analysis
D All of the above

Answer 1

Explanation:

4_____ is narrower in scope than cost analysis.

Answer 2

Answer:

Production analysis is narrower in scope than cost analysis

Explanation:

Production analysis is narrower in scope than cost analysis

• Cost analysis measures the link between costs and outputs in economics; that is, economists are interested in learning how much it costs to use inputs and how effectively they may be rearranged to boost a company's productivity.
• In order to establish the most effective level of production, cost analysis focuses on calculating the monetary worth of inputs, commonly known as the total cost of production.
• Production analysis is the in-depth study of how economic resources like labor, capital, and land are normally employed to generate a business's completed goods.
• While generally speaking, the main goal of cost analysis is to accurately determine the effective costs of each service covered by functional analysis.
• Compared to the examination of direct expenses, the analysis of production is more focused. Production analysis always goes on in material terms, whereas cost analysis always goes on in monetary terms.

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