Business Growth

Taisiya Lebedeva
Quiz by Taisiya Lebedeva, updated more than 1 year ago
Taisiya Lebedeva
Created by Taisiya Lebedeva about 2 years ago
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Description

GCSE Business Studies (REVISION) Quiz on Business Growth, created by Taisiya Lebedeva on 06/04/2019.

Resource summary

Question 1

Question
Economies of scale are a major source of competitive advantage for large firms.
Answer
  • True
  • False

Question 2

Question
What is a monopoly?
Answer
  • A government body
  • Two businesses joining together
  • When one retailer dominates a market

Question 3

Question
When does organic growth occur?
Answer
  • When a company hires more staff
  • When a company merges with a rival
  • When a company takes over a rival

Question 4

Question
A business will benefit from growth because [blank_start]it will gain more market power.[blank_end]
Answer
  • it will gain more market power
  • it will have more overheads
  • it will have more competition

Question 5

Question
Hiring more staff is an example of external growth.
Answer
  • True
  • False

Question 6

Question
The risk of expansion means that some owners are reluctant to chance funds. They opt instead to stay [blank_start]small[blank_end] and earn a relatively risk-free profit.
Answer
  • big
  • small

Question 7

Question
Owners can face a dilemma in deciding whether to expand. Expansion is risky. There's always the chance that any expansion plans can fail and result in [blank_start]losses[blank_end] rather than [blank_start]profit[blank_end].
Answer
  • losses
  • profit
  • losses
  • profit

Question 8

Question
Market power is not guaranteed with business growth.
Answer
  • True
  • False

Question 9

Question
[blank_start]External growth[blank_end] - where a business merges with or takes over another organisation. Combining two firms increases the scale of operation.
Answer
  • Franchising
  • External growth
  • Internal (organic growth)

Question 10

Question
How can a business grow in size?
Answer
  • By delayering
  • By giving staff bonuses
  • By offering franchises
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