Cottage Industry and Small Business Module Review

Benefits of growth to the firms that originate from the organisation itself

• Internal economies of scale

• External economies of scale

• Internal diseconomies of scale

• External diseconomies of scale

Disadvantages of growth to the firms that originate from the organisation itself usually carry up the cost of production

• Internal economies of scale

• External economies of scale

• Internal diseconomies of scale

• External diseconomies of scale

Select all the internal economies of scale

• Marketing

• Human Resource

• Technical

• Financial

Larger firms can attract and afford more skilled and qualified leaders ________

• Marketing

• Managerial

• Technical

• Financial

A business that is owned by a private individual and has a relatively low number of employees and sales

• Cottage industry

• Micro Industry

• Small Business

• Macro Business

A business or manufacturing activity carried on in people's homes

• Cottage industry

• Micro Industry

• Small Business

• Macro Business

The lowest level of production necessary for survival

• Subsistence Production

• Domestic Production

• Tertiary Production

• Export Production

Level of output that is sufficient to satisfy the needs of households within the national economy

• Subsistence Production

• Domestic Production

• Tertiary Production

• Export Production

Extractive industries based on natural resources

• Primary Production

• Secondary Production

• Tertiary Production

• Export Production

Processing, manufacturing, construction, assembling

• Primary Production

• Secondary Production

• Tertiary Production

• Export Production