Business operation for Edexcel igcse

Employing a specialist cost accountant in a growing business is an example of which type of economy?

• Technical economy

• risk-bearing economy

• Managerial economy

• Marketing economy

What impact will internal economics of scale have on costs?

• Total costs will fall

• Average costs will rise

• variable costs will rise

• Average costs will fall

Which of the following is an example of an external economy of scale?

• Increased cooperation and information sharing between businesses

• Rising costs of inputs

• Lower costs owing to bulk buying

• Better efficiency resulting from the specialization of labor

Which of the following is a possible limit to business growth?

• Fall in the exchange rate

• Government restrictions

• Marketing constraints

• Lack of finance

_________ financial advantages (falling average costs) of producing something in very large quantities

• Economics of scale

• Dis-economics of scale

• management

• business operation

___________ raising average costs when a firm becomes too big

• economics of scale

• Dis-economics of scale

• managment

• business decision

____________ cost benefits that an individual firm can enjoy when it expends

• External economics of scale

• Dis-economics of scale

• Internal economics of scale

• economics

_____________ cost benefits that all firms in the industry can enjoy when the industry expands

• External economies of scale

• Internal economies of scale

• dis-economies of scale

• Management

__________ training, guidance, course and similar that teaches you the skills you need to do a particular job

• Vocational

• Economic

• management

• business

___________ connected with something but less important than the main part of it

• opinion

• consultant

• Human operation

• Advisory (service)