EdExcel Theme 3 Micro Knowledge Book - Business Economics

Here are some links and revision activities for students and teachers using Tutor2u's new EdExcel Theme 3 Knowledge Book for Economics. This section covers business economics from page 3 onwards.

Business Growth

Collection of study notes on business growth

Reasons why firms seek to grow

Reasons why firms may choose to remain small

Different types of business growth:

Backward vertical integration

Forward vertical integration

Horizontal integration

Organic growth

De-mergers

De-mergers

For up-to-date examples have a look at Guardian news articles on mergers and acquisitions

Revision activity

Takeovers and mergers - (Match the buyer with the purchased)

The Principal-Agent Problem

Different types of business organisation

Co-operatives

Social enterprises

Public sector corporations

Constraints on business growth

What are some of the main barriers to the growth of a business?

See also (2017) Key issues facing UK small and medium sized enterprises

Guardian news articles on small businesses(recommended)

Business Objectives

Core revision notes on different business objectives

Profit maximisation

Revenue maximisation

Sales maximisation (also known as growth maximisation)

Satisficing

Revision Activity on Business Objectives and Economic Efficiency

Business revenues

Study note and revision video on business revenues

Business costs

Short run costs

Long run costs (including economies of scale)

Diseconomies of scale

External economies of scale

Natural monopoly

Revision activity on economies and diseconomies of scale