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BUSINESS SIZE

Authored by Muhammad Azim bin Zainal Alam

Business

University

Used 12+ times

BUSINESS SIZE
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16 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are some criteria used to measure business size?

Number of employees, Sales turnover, Market capitalisation

Number of employees, Market share, Value added

Sales turnover, Capital employed, Market share

Market capitalisation, Market share, Value of shares in stock market

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the significance of small and micro-businesses?

All of the above

Create competition for larger firms, Supply specialist goods and services, Enjoy lower average costs

Reduce exploitation, Provide variety in the market, Pass on benefits to consumers

Create jobs, Run by dynamic entrepreneurs, Offer personal service to customers

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are some advantages of small businesses?

Can afford specialist professional managers, Benefit from economies of scale, Have access to several sources of finance

Can be managed and controlled by the owner(s), Adapt quickly to changing customer needs, Offer personal service to customers

May be diversified, Lower costs as more is produced, Competitive in the market

None of the above

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are some disadvantages of large businesses?

Can be managed easily, Benefit from economies of scale, Set low prices compared to competitors

Afford research and development into new products, Diversified in several markets and products, Spread risks

None of the above

Difficult to manage especially if geographically spread, Suffer from diseconomies of scale, Slow decision making and poor communication

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one of the main objectives of any business growth?

All of the above

Economies of scale, Market share, Brands

Increase reputation, Lower costs as more is produced, Spread risk by diversifying

Increase profit, Become market leader, Control suppliers

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is internal growth in business?

Acquiring companies that supply raw materials or services

Acquiring companies in the same industry but at an earlier stage of production

Expansion by means of opening new branches, shops, factories

Expansion by means of mergers, Takeovers, Buyouts

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is external growth in business?

Expansion by means of opening new branches, shops, factories

Expansion through integration such as mergers, takeovers, buyouts

Acquiring companies that supply raw materials or services

Acquiring companies in the same industry but at an earlier stage of production

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