Podcast
Questions and Answers
What is the definition of 'small' and 'medium sized' enterprises (SME) in a European perspective?
What is the definition of 'small' and 'medium sized' enterprises (SME) in a European perspective?
- Enterprises with less than 250 employees (correct)
- Enterprises with less than 1000 employees
- Enterprises with less than 500 employees
- Enterprises with less than 100 employees
What was the reason for the growing interest in small and medium sized firms over the last decade?
What was the reason for the growing interest in small and medium sized firms over the last decade?
- The emphasis on the Enterprise Culture by the Conservative government (correct)
- The emphasis on the Welfare Culture by the Conservative government
- The emphasis on the Welfare Culture by the Labour government
- The emphasis on the Enterprise Culture by the Labour government
Why are small firms dominant in retail distribution and personal services?
Why are small firms dominant in retail distribution and personal services?
- Because they have a better marketing strategy
- Because they have a large number of employees
- Because they face low entry barriers (correct)
- Because they have economies of scale
What did Margaret Thatcher say about small businesses in 1984?
What did Margaret Thatcher say about small businesses in 1984?
What is the reason for some firms to have a small optimum efficient plant size?
What is the reason for some firms to have a small optimum efficient plant size?
What is the principal-agent problem in public companies?
What is the principal-agent problem in public companies?
What is X-inefficiency?
What is X-inefficiency?
What advantage do small firms have over large firms in filling niche markets?
What advantage do small firms have over large firms in filling niche markets?
What is Allocative inefficiency?
What is Allocative inefficiency?
What is one way that small firms can gain the advantages of bulk-buying while still retaining their independence?
What is one way that small firms can gain the advantages of bulk-buying while still retaining their independence?