Unit 20 (Firms) (IGCSE)

Connect the correct answer.

Three sectors of industry depend on each other, and cannot operate independently to produce goods and services. This means _______.

Firms in the three sectors are linked through a process. This process is called --------.

Individuals and owners belong to _______ sector.

Government plays an important role in _____ sector.

How do you measure the size of a firm?

The business which is controlled by a individual is called _________.

Which are the advantages of small firms? (Can choose more than one.)

• Less legal formalities

• Economies of scales

• Receiving all the profits

• Knowing customers well

• Easier to borrow money from banks

What are the disadvantages of small firms? (Can choose more than one.)

• More risks of failure

• Loss of control

• Limited capital

• Slower decision making

• Lack of continuity

Acquiring a competitor is an ____ growth method.

• internal

• external