Have an account?
Skip to Content
Build your own quiz
15 questions
Show Answers
See Preview
- 1. Multiple ChoiceEconomies of scale are the reduction in costs of production achieved through increased output.TrueFalse
- 2. Multiple ChoiceWhich of the following is not a cause of internal diseconomies of scale?Poor communication between different departmentsLack of staff morale and motivationLess control, direction and coordination of human resourcesLate deliveries due to congestion in busy locations
- 3. Multiple ChoiceExternal economies of scale can arise fromBulk purchases of raw materials, parts and components at favourable pricesThe introduction and use of advanced technologySpecialised back-up services available in a particular regionLower interest rates, thus reducing the cost of borrowing to large companies
- 4. Multiple ChoiceIf a firm doubles its use of inputs and finds that output increases by 50%, then it has experiencedGrowthEconomies of scaleDiseconomies of scaleEvolution
- 5. Multiple ChoiceIf a firm increases its use of all factors of production but sees an increase in its average costs, this is a sign ofInternal diseconomies of scaleExternal diseconomies of scaleExternal economies of scaleExternal diseconomies of scale
- 6. Multiple Choice
what is a trade union?
(a) It is an organisation
(b) A group of workers
(c) Trade unions are independent organisations that represent workers to their employers
(d) To register a trade union, you must apply to the Registrar of labour Relations
- 7. Multiple Choice
What are the roles and responsibilities of Trade union?
(a) Is to ensure the welfare of its members such as safeguarding the interests of its members
( b) Protecting the reliability of its trade.
( c) achieving higher wages by securing economic benefits.
(d) All of the above
- 8. Multiple Choice
5. What is least likely to be a function of a trade union?
A improving working conditions
B. reducing the cost of labour
C. representing members interests
D securing adequate pay for members
- 9. Multiple Choice
14. What does the term"closed shop'mean?
A a bankrupt retail establishment
B. a trade union that is approved by the govemment
C. an agreement that all workers must be members of the same trade union
D. an agreement by trade unions to share members
- 10. Multiple Choice
18. which of the following is an example of action taken by a trade union?
A. Go-fast
B. Sit-down
C. Work-to-rule
D. Lie- in
- 11. Multiple ChoiceOne of the reasons for vertical integration between two businesses could be to:diversify into a completely different industryreduce competitors supplying the same productcontrol the supply of raw materialobtain higher market share
- 12. Multiple ChoiceOccurs when a firm acquires former suppliers or customersHorizontal MergerVertical MergerProduct Extension MergerMarket Extension Merger
- 13. Multiple ChoiceJoint ventures, mergers and acquisitions are all examples of what type of growth?InternalExternalOrganicBranding
- 14. Multiple ChoiceA benefit of an organization being small isBrand recognitionLower pricesGreater choiceGreater motivation
- 15. Multiple ChoiceWhich of the following is a benefit to an organisation being large?Cost controlMarket leader statusGovernment aidFlexibility
- Answer choicesTagsAnswer choicesTags