Worksheets20 Firms
Total questions: 15
Worksheet time: 8mins
This sector contains firms that manufacture goods, constructions and changing raw materials into finished products.
Primary Sector
Secondary Sector
Tertiary Sector
Quaternary Sector
____________ means that the three sectors of industry depend on each other and cannot operate alone to produce goods and services.
Intercultural
International
Interdependence
Intersectoral
It refers to economic activity owned by private individuals and firms.
Private Sector
Public Sector
Sole Trader
Partnership
It is a business owned by shareholders, who are unable to buy or sell shares without the consent of other shareholders.
Sole Trader
Partnership
Private Limited Company
Public Limited Company
Which of the following statement is the aims of public sector.
To earn profits for its owners.
To embargo the local products.
To provide service.
To dismantle trade unions.
Which of the following is not a measure of relative size of firms.
market share
market capitalisation of a firm
number of employees
market place
It is an increase in the size of a firm resulting from it enlarging existing plants or opening new ones.
internal growth
external growth
franchise
merger
It occurs when two or more firms join together to form just one firm.
merger
demerger
franchise
takeover
It occurs when two or more firms from unrelated areas of business integrate to create a new firm.
horizontal merger
backward vertical merger
forward vertical merger
conglomerate merger
__________ are the cost-saving benefits of large scale operations which reduce average costs of production.
Economies of scale
Diseconomies of scale
Internal Economies of scale
External Economies of scale
What is most likely to be supplied by small firms?
Banking
Film production
Shoe repair
Steel
A toy manufacturer merges with chemical company. What type of merger is this?
Conglomerate
Horizontal
Vertical Merger Backwards
Vertical Merger Forwards
What is meant by financial economies of scale?
Lower average costs experienced by large banks and other financial institutions.
Lower average costs arising from a large operating its finance department more efficiently
Lower average costs due to the ability of large firms to borrow more cheaply
Lower average costs occurring because of the use of larger capital equipment.
What occurs when firms expand using their own resources?
Internal Growth
External Growth
Internal Economies of scale
External Economies of scale
Which option is an external economy of scale?
availability of skilled labour
bulk buying
financial
risk-bearing
