Meaning of Scale of Production - SS1 Economics Past Questions and Answers - page 1
1
What does the scale of production refer to?
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A
The size and volume of production output of a business
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B
The location of a business
C
The number of employees in a business
D
The marketing strategy of a business
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2
What is small-scale production?
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A
Where businesses produce limited quantities of goods or services with limited resources and a small workforce
B
Where businesses produce a massive amount of goods or services with substantial resources and an extensive workforce
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C
Where businesses produce a moderate amount of goods or services with more significant resources and a larger workforce
D
None of the above
3
What is medium-scale production?
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A
Where businesses produce limited quantities of goods or services with limited resources and a small workforce
B
Where businesses produce a massive amount of goods or services with substantial resources and an extensive workforce
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C
Where businesses produce a moderate amount of goods or services with more significant resources and a larger workforce
D
None of the above
4
What is large-scale production?
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A
Where businesses produce limited quantities of goods or services with limited resources and a small workforce
B
Where businesses produce a massive amount of goods or services with substantial resources and an extensive workforce
C
Where businesses produce a moderate amount of goods or services with more significant resources and a larger workforce
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D
None of the above
5
What is the impact of the scale of production on a business's costs?
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A
It may increase or decrease the costs depending on the scale
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B
It has no impact on a business's costs
C
It only increases the costs of production
D
It only decreases the costs of production
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6
What are the three primary types of scales of production?
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