Week 19 summary sheet questions

Passage
•
Business
•
11th Grade
•
Hard
Tom Evans
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are internal economies of scale?
The rising average costs when a firm gets too big.
Benefits all firms in an industry receive as the industry grows.
Cost benefits that an individual firm can enjoy when it expands.
The disadvantages that come with a firm's expansion.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of economy of scale is associated with large firms getting cheaper rates when buying resources in bulk?
Marketing economies
Technical economies
Purchasing economies
Managerial economies
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a benefit of external economies of scale?
Individual firms can negotiate better interest rates on loans.
All firms in an industry benefit from falling average costs as the industry grows.
Larger firms can afford more expensive advertising campaigns.
Firms can rely more on bureaucracy for efficient management.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What can lead to diseconomies of scale?
A build-up of skilled labor in a particular region.
Improved infrastructure due to industry dominance in a region.
Inefficiencies arising from overly complex bureaucracy and long chains of command.
Cooperation between firms in the same industry to share research and development costs.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is likely to happen when a business produces more than its ideal size, for example, 70,000 units?
It will experience internal economies of scale.
Its average costs will begin to rise due to inefficiency.
It will benefit from skilled labor concentration in the region.
It will be able to afford specialist managers and reduce costs.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a barrier to business growth that involves the difficulty of managing a large number of staff and processes?
Lack of finance
Nature of the market
Control and coordination
Lack of managerial skills
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT listed as an advantage of job production?
Products can be bespoke/custom-made.
Production is easy to organise.
Quality is likely to be high.
Workers are likely to be motivated as job is varied.
Create a free account and access millions of resources
Similar Resources on Wayground
20 questions
Business Management II - Objective 1.02 Review

Quiz
•
9th - 12th Grade
20 questions
4.02 BE Smooth Operations

Quiz
•
9th - 12th Grade
18 questions
OCR GCSE Business Studies Operations

Quiz
•
10th - 11th Grade
18 questions
Chapter 8 Recruitment, selection and training

Quiz
•
10th - 11th Grade
20 questions
ESB Vocabulary Quiz 2

Quiz
•
9th - 12th Grade
20 questions
Enterprise, Business Growth and Size

Quiz
•
9th - 12th Grade
24 questions
IGCSE Business Studies 6.2 Environmental and Ethical Issues Quiz

Quiz
•
9th Grade - University
25 questions
Principles of Business: Production and Cottage Industry

Quiz
•
6th Grade - University
Popular Resources on Wayground
10 questions
Video Games

Quiz
•
6th - 12th Grade
20 questions
Brand Labels

Quiz
•
5th - 12th Grade
15 questions
Core 4 of Customer Service - Student Edition

Quiz
•
6th - 8th Grade
15 questions
What is Bullying?- Bullying Lesson Series 6-12

Lesson
•
11th Grade
25 questions
Multiplication Facts

Quiz
•
5th Grade
15 questions
Subtracting Integers

Quiz
•
7th Grade
22 questions
Adding Integers

Quiz
•
6th Grade
10 questions
Exploring Digital Citizenship Essentials

Interactive video
•
6th - 10th Grade