How can business growth help in terms of market competition?

Remove competition/increase market share

Increase the risk of being taken over

What is horizontal integration?

Two businesses from the same sector of industry becoming one business.

Two businesses from different sectors of industry becoming one business.

One business taking over another business from a different sector.

One business splitting into two separate businesses.

Which of the following is an example of horizontal integration?

A dairy farm merging with another dairy farm.

A dairy farm merging with a bank.

A bank taking over a dairy farm.

A dairy farm splitting into two separate farms.

What is one advantage of horizontal integration?

Quality may suffer due to lack of competition.

What is one disadvantage of horizontal integration?

Quality may suffer due to lack of competition.

Which of the following is NOT an advantage of horizontal integration?

Quality may suffer due to lack of competition.

What is vertical integration?

When two businesses at different stages of production process join together.

When two businesses at the same stage of production process join together.

When a business merges with a competitor.

When a business outsources its production.

What is Backwards Vertical Integration?

When a business takes over a business in an earlier sector of industry, their supplier

When a business takes over a business in a later sector of industry

When a business merges with another business in the same sector

When a business outsources its production to another company

Which of the following is an example of Backwards Vertical Integration?

A coffee company taking over a coffee bean plantation

A coffee company opening a new retail store

A coffee company merging with another coffee company

A coffee company outsourcing its marketing to another firm

What is vertical integration?

When two businesses from different sectors of industry become one business.

When two businesses from the same sector of industry become one business.

When a business takes over a competitor.

When a business merges with a supplier.

What is an example of Forward Vertical Integration (FVI)?

A mobile phone manufacturer taking over a mobile phone shop.

A mobile phone manufacturer merging with another manufacturer.

A mobile phone shop merging with a supplier.

A mobile phone shop taking over a competitor.

What is one of the benefits of Forward Vertical Integration?

Control over research and development

What is lateral growth in a business context?

When a business moves into another market in a similar or related field but not in competition with them

When a business expands its current market share

When a business reduces its product line to focus on core products

When a business merges with a direct competitor

Which of the following is an example of lateral growth?

A hairdresser taking over a beauty therapist

A restaurant opening a new branch in a different city

A tech company acquiring a software competitor

A clothing brand launching a new fashion line

What is one benefit of lateral growth for a business?

It gives the business a larger customer base and spreads risk by having different products and services

It reduces the number of competitors in the market

It allows the business to focus on a single product line

It increases the business's market share in its current industry

What happens during a takeover or acquisition?

A larger business takes over a smaller one.

A smaller business takes over a larger one.

A business splits into two smaller businesses.

What is one of the reasons a firm might remove underperformance through divestment?

To increase the number of employees

When two businesses that had previously merged agree to separate and operate on their own.

When two businesses merge to form a new entity.

When a business is taken over by another business.

When a business expands into new markets.

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Economy and Industry Sectors Quiz

40 questions

Which Sector of the Economy would a furniture factory be in?

Which Sector of Industry is a bank in?

Which of the following is an example of internal growth for a business?

What is an example of external growth for a business?

Which method of growth involves a business expanding by using another company's brand and business model?

Which of the following is NOT a method of internal growth?

Which method of growth involves a business contracting out a business process to another company?

Which term refers to the growth of a company by increasing output and enhancing sales internally?

What is the term for the combination of two companies into one, typically to achieve greater efficiencies of scale and productivity?

Which term describes the process of a company selling off a portion of its assets or a subsidiary?

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