Which factor of production is fixed in supply?

Which factor of production is created in the production process?

Identify the level of production: Food crops, eggs and milk being sold to the national market.

Identify the level of production: A family growing their own fruits and vegetables.

Identify the level of production: Architectural or engineering services for major overseas projects

Identify the level of production: Providing goods for the international market

Identify the sector of production: Construction Industry

Identify the sector of production: Bauxite mining in Jamaica or Guyana

Identify the sector of production: Constructing garments and clothing

Identify the sector of production: Building roads, ports, airports

Identify the sector of production: Hotels, resorts, car rental, restaurants, visitor attractions, dive shops.

A business or manufacturing activity carried out in people's homes is called...

A business that is owned by a private individual and has a relatively low number of employees and sales

Which is NOT a characteristic of cottage industry?

Identify whether the following is a "small business" or "cottage industry": This business usually has its own location

Identify whether the following is a "small business" or "cottage industry": This business tend to have paid employees

Identify whether the following is a "small business" or "cottage industry": This business tend to have simple home utensil or equipment

Select ALL the advantages of having a small business rather than a large business.

Benefits of growth to the firms that originate from the organisation itself

Disadvantages of growth to the firms that originate from the organisation itself usually carry up the cost of production

Select all the internal economies of scale

Larger firms can attract and afford more skilled and qualified leaders ________

A business that is owned by a private individual and has a relatively low number of employees and sales