In terms of primary/secondary/tertiary sectors and private/public sector, and the relative size of firms.
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The advantages and disadvantages of small firms, the challenges facing small firms and reasons for their existence.
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Internal growth, for example increased market share. External growth, for example mergers.
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Examples, advantages and disadvantages of different types of mergers: horizontal, vertical, and conglomerate.
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How internal and external economies and diseconomies of scale can affect a firm/industry as the scale of production changes.
*Unit 3 review
Note: detailed knowledge of different types of structure of a firm is not required.
Questions with suggested solutions
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