1. Which one of these is a type of economies of scale?
- technical economies of scale
- negative economies of scale
- individual economies of scale
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2. What is managerial economies scale linked to?
- Linked to external economies of scale
- Linked to the division and specialisation of labour
- Linked to the trade union
3. At what point on an average cost curve are firms productively efficient?
- At the highest point of the stright line graph
- At the lowest point of the U shape
- At the lowest point of the straight line graph
4. What do financial economies of scale mean?
- As the firm gets smaller, financial issues arise
- Due to the growth of a firm, banks and other lenders charge less interest and negotiate on better terms than with smaller risker firms
- As the firm expands investment increases
5. What are economies of scale?
- More demand with larger firm
- Lower average costs resulting from the expansion of a firm
- Higher average costs resulting from the expansion of a firm