Economics

Question 1

1A merger of firms at the same stage of production is

Easy

A. conglomerate B. franchise C. horizontal integration D. vertical integration

Question 2

2The optimum firm size is where

Hard

A. long-run average cost is at its minimum B. output is largest C. profit is zero D. workers are most

Question 3

3A disadvantage of industrialisation is

Easy

A. pollution of the environment B. more exports C. more jobs D. improved technology

Question 4

4Locating a factory near its raw materials is important when the raw materials are

Easy

A. cheap B. light C. imported D. bulky or heavy

Question 5

5Economies of scale are

Easy

A. price controls B. taxes on firms C. cost advantages from large-scale production D. losses from growth

Question 6

6Infant industries need protection because they

Easy

A. are too large B. cannot yet compete with established foreign firms C. make huge profits D. have no workers

Question 7

7Ghana's One District, One Factory policy is aimed mainly at

Easy

A. reducing exports B. closing farms C. industrialisation and job creation across districts D. importing more goods

Question 8

8A firm is

Easy

A. the government B. a whole industry C. a single business unit D. a market

Question 9

9A group of firms producing the same or similar products is

Easy

A. an industry B. a cooperative only C. a market price D. a firm

Question 10

10Vertical integration is a merger between firms

Easy

A. at the same stage B. in different countries only C. in unrelated industries D. at different stages of production