Meaning of Scale of Production - SS1 Economics Past Questions & Answers - page 1

1

What does the scale of production refer to?

 

A

The size and volume of production output of a business

 

 

 

B

The location of a business

C

The number of employees in a business

D

The marketing strategy of a business

 

CORRECT OPTION: a
2

What is small-scale production?

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

D

None of the above

CORRECT OPTION: a
3

What is medium-scale production?

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

D

None of the above

CORRECT OPTION: c
4

What is large-scale production?

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

 

D

None of the above

CORRECT OPTION: b
5

What is the impact of the scale of production on a business's costs?

A

It may increase or decrease the costs depending on the scale

 

 

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

 

CORRECT OPTION: a
6

What are the three primary types of scales of production?

 

The three primary types of scales of production include:

  • Small-scale production - where businesses produce limited quantities of goods or services with limited resources and a small workforce.

  • Medium-scale production - where businesses produce a moderate amount of goods or services with more significant resources and a larger workforce.

  • Large-scale production - where businesses produce a massive amount of goods or services with substantial resources and an extensive workforce.

 

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