Internal growth is where a business grows by joining another business

• True
• False

External growth is where a business grows by selling more of its own products.

• True
• False

Franchising is another way of internal expansion

• True
• False

Economies of scale is when the cost per unit falls as a business expands

• True
• False

External growth is where a business grows by selling more of its own products.

• True
• False

 Turnover is also known as revenue (price x quantity)

• True
• False

Give an example of external growth.

• Growing plants outside

• Increasing the size of the factory.

• Two businesses joining together.

• Increasing market share.

What is a merger?

• An extension tactic.

• Gluing two factories together.

• Where two or more businesses agree to join together.

• A welding process

A takeover is when

• A business agrees to join with another business

• A business buys more than 50% of another business

• A business buys any share of another business

• A business takes over paying the workers of another business

Which of the following is not an example of organic growth

• Increasing output

• Merging with a supplier

• Developing new products

• Gaining new customers