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MODULE TITLE: BUSINESS MANAGEMENT TECHNIQUES
TOPIC TITLE: BUSINESS ORGANISATION AND STRATEGIES
LESSON 2: THE SCALE OF PRODUCTION
INTRODUCTION - The scale of production is influenced by a number of factors including the demand for a product and the technology available to an industry. This lesson explores the influences on the size of firms and considers why there are so many small firms when it would appear that large-scale production is more advantageous.
YOUR AIMS - At the end of this lesson you should be able to:
QUESTIONS -
1. How might market factors affect the scale of production?
2. What is meant by the term 'economies of scale'.
3. What is the most suitable size of business for a quality chocolate retailer? Give reasons.
4. What are external economies of scale?
5. Why may a small business owner want to avoid growth?
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