Understanding Growth and Liquidity Concepts
Quiz
•
Business
•
12th Grade
•
Easy
undefined Gayle
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60 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Tico and Daisy start a small bakery. As they bake and sell more bread, they notice that the average cost of making each loaf goes down. Which of the following best describes this situation?
The increase in costs as a business grows larger
The reduction in average costs as output increases
The increase in market share due to advertising
The decrease in revenue as production rises
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Zoe and Angus are planning to expand their small bakery business. What is a primary objective of their business growth?
To reduce market share
To achieve economies of scale
To increase diseconomies of scale
To decrease brand recognition
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When Zoe's company grows and hires specialised managers within the firm, which of the following is this an example of?
Bulk buying discounts from suppliers
Improved access to finance
Specialised managers within the firm
Industry-wide technological improvements
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Angus and Zoe run a bakery in a small town where there are no other bakeries nearby. What is meant by 'market power' in this context of their business growth?
The ability to set higher prices due to lack of competition
The ability to reduce costs through automation
The ability to increase staff wages
The ability to decrease product quality
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Louis and Daisy are discussing the success of a popular sportswear company that recently increased its brand recognition. Which of the following is a benefit the company might experience as a result?
Lower staff morale
Higher customer loyalty
Reduced profitability
Increased diseconomies of scale
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Tico and Daisy are analysing a company that holds a high market share in its industry. This company is likely to:
Have less influence over suppliers
Have more bargaining power with suppliers
Face higher average costs
Have lower brand recognition
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Harriet and Vy started a small tech company that quickly became very popular. As their business grew rapidly, which of the following is a problem they might face?
Improved internal communication
Diseconomies of scale
Decreased market share
Lower profitability
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