IGCSE Econs - the firm 6qs
Authored by Ian Edwards
Business, Other
10th - 11th Grade
Used 14+ times
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6 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
How is a government most likely to prevent the growth of monopolies?
by encouraging mergers in the private sector
by establishing nationalised industries
by promoting the benefits of economies of scale
by reducing barriers to entry into an industry
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The following information refers to a firm producing shoes. At which level of output does the firm maximise profits?
A
B
C
D
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When do economies of scale take place?
in the short run
if variable factors become fixed
when all factors of production are fixed
when all factors of production are variable
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A firm produces 1000 units and has a total cost of $50 000.
The variable cost per unit produced is $40.
What is the total fixed cost of the firm?
$1000
$4000
$10000
$40000
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Firms can grow by increasing the internal scale of their operations.
What might be a disadvantage of this to the firm?
average cost begins to fall
it is difficult to motivate workers
labour is replaced by robots
markets become global
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A government owns and runs an airline.
Which combination of ownership and sector is this?
A
B
C
D
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