Secondary 2 - Quizziz 1

A detailed written document outlining the purpose and aims of a business is known as ___________.

• Business activity

• Business plan

• Business assets

• Company background

Business plan is important for planning and developing existing business, usually it is called as __________.

• Business strategy

• Business competitors

• Competitive advantage

• Corporate plan

All of these are the ways government can support start-up businesses EXCEPT ___________.

• Subsided training for workers

• Grants

• Lower corporate tax

• Free salaries

All of these are considered as assets EXCEPT ____________.

• Building

• Truck

• Raw materials

• Bank loan

The percentage of total sales in an industry generated by a company is known as ____________.

• Revenue

• Profit

• Market

• Market share

All of these are the methods to measure business size, except __________.

• Capital employed

• Value of output

• Number of employees

• Number of machinery

• Market share

When a business achieve economies of scale, it means......

• The production costs increase and becomes less efficient.

• The quantity of products becomes lesser.

• The production costs decreased and increase profits.

• The business has a high quality of raw material.

When two firms get together in the same industry, it is known as _________.

• Vertical integration

• Horizontal integration

• Business sectors

• Primary integration

When a wood company get together with a furniture manufacturer, it is known as ___________.

• Horizontal integration

• Forward vertical integration

• Backward vertical integration

• Forward horizontal integration

All of the followings are considered as internal growth except __________.

• Increase products quantity

• Develop new products

• Produce new products with other companies

• Produce products for the new markets