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theme 3 revision questions
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3.1 revision questions: business growth1. why do firms grow?
2. Why do small firms exist ?
3. What is the divorce of ownership and control?
4. how can you generate organic growth?
5. Name the three types of inorganic growth?
6. What is forward vertical integration?
7. What is backwards vertical integration?
8. What are the advantages of organic growth?
9. What are the disadvantages of organic growth?
10. What are the advantages of vertical integration?
11. What are the disadvantages of vertical integration?
12. What are the advantages of horizontal integration?
13. What are the disadvantages of horizontal integration?
14. What are the benefits to conglomerate integration?
15. What are the drawbacks to conglomerate integration?
16. What are the four main constraints of business growth?
17. Define a demerger
18. What are the main reasons for a demerger?
19. What are impacts of demergers on stakeholders?
3.2 business objectives
1. where is profit maximisation in the graph? Explain why that is.
2. Draw graph for profit maximisation?
3. Why does revenue maximisation occur?
4. Where in the graph is revenue maximisation? Explain why that is.
5. Draw graph for revenue maximisation?
6. Where is sales maximisation in the graph? Explain why that is.
7. Draw diagram for sales maximisations
8. What is profit satisficing?
3.3 revenue, costs and profits
1. what is the difference between fixed costs and variable costs?
2. What is the law of diminishing marginal productivity?
3. What is the marginal product of labour?
4. List the 6 types of economies of scale?
5. List the 4 types of diseconomies of scale?
6. Draw the diagram that shows the economies of scale in the long run
7. What is meant by external economies of scale?
8. List the 4 sources of external economies of scale?
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