A financial institution can achieve cost savings in its credit card operations if it increases the number of cardholders. This i

Question

Marina86 [1]

4 years ago

6

A financial institution can achieve cost savings in its credit card operations if it increases the number of cardholders. This i

s an example of economies of

Business

1 answer:

vitfil [10] · Answer 1 · 2021-12-19T21:35:21+03:00

Answer:

Economies of scope

Explanation:

Economies of scope is a benefit that a company has by producing a a wide range of products or services which reduces the unit cost. In this case of a financial institution, offering more credit cards to a large number of people will help them achieve their desired cost savings. Economies of scope is achieved when it provides a business with ways to generate operational efficiencies.