WorksheetsCottage Industry and Small Business Module Review
Total questions: 20
Worksheet time: 14mins
Benefits of growth to the firms that originate from the organisation itself
Internal economies of scale
External economies of scale
Internal diseconomies of scale
External diseconomies of scale
Disadvantages of growth to the firms that originate from the organisation itself usually carry up the cost of production
Internal economies of scale
External economies of scale
Internal diseconomies of scale
External diseconomies of scale
Select all the internal economies of scale
Marketing
Human Resource
Technical
Financial
Larger firms can attract and afford more skilled and qualified leaders ________
Marketing
Managerial
Technical
Financial
A business that is owned by a private individual and has a relatively low number of employees and sales
Cottage industry
Micro Industry
Small Business
Macro Business
A business or manufacturing activity carried on in people's homes
Cottage industry
Micro Industry
Small Business
Macro Business
The lowest level of production necessary for survival
Subsistence Production
Domestic Production
Tertiary Production
Export Production
Level of output that is sufficient to satisfy the needs of households within the national economy
Subsistence Production
Domestic Production
Tertiary Production
Export Production
Extractive industries based on natural resources
Primary Production
Secondary Production
Tertiary Production
Export Production
Processing, manufacturing, construction, assembling
Primary Production
Secondary Production
Tertiary Production
Export Production
Owners can have more personal ties with customers
Small Businesses
Large Businesses
Tend to experience economies of scale
Small Businesses
Large Businesses
Physical expansion or opening other outlets
Internal growth
External growth
Check all the correct answers below: SportsMAx and SSFL teaming up to stream local school football in the Caribbean
Joint Ventures
Mergers
Acquisitions
External Growth
Internal Growth
Check all the correct answers below: VIACOM and CBS coming together to form VIACOMCBS.Inc
Joint Ventures
Mergers
Acquisitions
External Growth
Internal Growth
Check all the correct answers below: Disney purchasing ABC, ESPN and PIXAR:
Joint Ventures
Mergers
Acquisitions
External Growth
Internal Growth
A business grants the licence to use its brand and reproduce its product.
Joint Ventures
Mergers
Acquisitions
Franchising
Sandals hotel and West Indies Cricket Board coming together to promote the Caribbean
Joint Venture
Merger
Acquisition
Franchising
All of the following are features of cottage industries except
The firm uses simple tools and equipment
Usually a one-person business
Mass produce designer products
Uses local raw material
Which of the following is not one one of the key features of a cottage industry?
Carried out in persons homes
Typically use traditional or small scales technology
Often use local raw material
Usually hire employees from the community
