算四第六第日四廿月十年申庚醫夏
1981
中學會考試題預習專欄
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ECONOMIC (8)
K. K. Wong & L. T. Chan MILL & DALE PRESS LTD.
1. Discuss the economies of
large-scale production and explain why some small firms still exist.
Economies of large-scale production can be achieved by the policy manipulations within the firm. Generally
speaking, when output increases, the average cost of production tends to fall over normal ranges of output. The following are some of the main economies of scale enjoyed by large scale production.
(a) Economies in the use of "factors of production
The total costs to output increase less than proportionately for a large output than a smaller one. Since large scale production may. nced, more labour force,
a greater division of labour will most probably be employed. Consequently, the average output per man-hour can be expected to rise and qualified specialists can be introduced, In addition, larger firm will attract more efficient labour
because it can offer its employees better propects of promotion to higher-paid posts.
Greater division of läbour
also enables a more. capitalistic method of production and the employment of more specialized machinery. Large scale of production is able to use its materials more
economically, for what
might be waste to a small firm can often be used by
a large firm in the
manufacture of by-products.
(b) Economies of
administration
As far as economies.
of administration is concerned, due to increases in division of labour, a larger firm is able to attain a more efficient use of labour and better management methods.
(c) Marketing economies
It is generally the case that a large firm can buy more cheaply than a small one, for it buys new materials, component parts, etc. in bulk, Hence it enjoys the
quantity discount for
large purchases.
Similarly, a large
retailer can buy directly from the producer at a lower price than that charged by the wholesaler.
As far as advertising and promotions are concerned,
a large firm is able to
afford a higher spending
on these items than a
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small firm.
(d) Economies in finance
Large firms
generally are considered to be safer borrowers by the banks, thus they can borrow money from banks at a lower rate of inte rest.
(e) Economies in research
Large firms again
have advantages over the small, for they can set up their own research: departments, have their
own laboratories, and can employ a large number of trained research workers. In this way, a large firm is able to study betterments for the company and innovate products for the company company's growth.
Economies in welfare.
A large firm is financially able to provide long-run, extensive welfare facilities and improve the working. conditions for its employees.
Even though large firms can enjoy the advantages through large scale production, the fact that small firms still survive indicates the following reasons:- (a) The size of the business
tends to be small where. (i) the work involves the provision of direct services, for instance doctors, accountants, dentists.
(i) the work can be done by
craftsmen e.g, în tailoring
(iii) a personal service is
provided, such as that of the domestic plumber or electrician.
(b) Sometimes, many small retailers can survive because they have been able to give personal attention to the particular requirements of their own group of customers who are willing to pay a little more for this service.
(c) Small firms are just right in
supplying enough quantities when there is only a limited demand for a commodity in the market,
(d) In some forms of production, costs quickly start to rise as production expands, and so the most economical unit is the small firm, or in other words, the optium size of the firm should be small.
2. What are the different types of integration 2 State the i advantages and disadvantage. of integration.
There are 3 distinguishable types of integration:
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integration results when one of the firms in the combination supplies the other with an important service of intermediate product. The integration. of a paper mill with a magazine is such an example. This type of integration gives a company more control over its distribution and purchasing. Even though the firms involved are not direct competitors, a vertical integration
sometimes results in a.
considerable reduction of
competition by providing a way for a firm holding substantial control in one market to spread its control to another
(3) Conglomerate integration
A conglomerate integration results when firms that are in distinct. often unrelated, industries combine together. The integration of a steel manufacture and a cigarette company is an example. Although a conglomerate integration is less likely to influence competitive conditions than either horizontal or vertical integration, it can Still reduce the scope of competition when the two firms integrated are strong potential → competitors or are important customers. each other,
Advantages of Integration.
Integration can bring about operational efficiency and reduce the cost of production. Thus the customers can benefit by paying a lower price as a result of integration. Excessive competition can be eliminated through integration and wastage of valuable resources can be avoided. Also, when small firms integrate together to form
a single large firm, the economies of large-scale production can be obtained. More chance and wider scope for improving quality, standardization and research facilities for products can be realized through integration of firms. Likewise, integration may increase coordination between different stages of production and substantial increase in output can be achieved.
Disadvantages of Integration
Integration can create many new problems which the original firms are unfamiliar with of difficult to tackle with, Also, since integration can
result in operational efficiency, redundant labour will have to be dismissed and this can pose a serious problem especially in countries where unemployment is already critical. Even though integration in general can reduce risks and uncertainies. for production, the organization more firms that sell in the formed may be too complex and
(1) Horizontal integration
A horizontal Integration results from the combination of 2 or
same line of business. Since a horizontal Integration combines competitors together, it increases the degree of industrial concentration and tend to contribute to
a reduction of competition within an industry.
(2) Vertical integration
A vertical
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too large to manage. Thus, worse coordination instead of better coordination between various stages of production may arise Combination of firms likewise can reduce competition and increase concentration as well as monopoly power. Concentration is especially a problem when the industry is. very critical to the country
日一月二十年〇八九一曆公年九十六國民華中 育教華
4(2−2k,)+5(3+kŋ)=0
concerned. The decline of
collapse of a big firm in such an industry may put a large number of workers out of job and push the related industries into difficulties. A depression or mass unemployment may thus result. On the other hand, monopolistic power can bring harm to the consumers if the large firms decide to charge. higher prices in order to realize more profits.
1981
中學會考試題預習專欄
附加數 (A)
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Add Maths (8)
C. Y. Shum
MILL & DALE PRESS LTD.
Solutions to Exercíse 4
1. Let P(x, such that
AP PB
Q(x, y)
P(x,y). A(a+b,a-b)
`and Q(x,,,) such that AQ
OB
(a+b)+(a−b)
145 (a+b)b+a(a−b} a+b
CD: (446)x+(5+25)y-7=0
6x-4y+1=0
BE: (2)x+(3+)0
-5x+4y=0 Solving (1) and (2),
have x=-1, y
the orthocentre, H (−1, −2)
3. Let R be (b,k) Since Po: PR=1;
PQ:ON=1:2
the coordinate
h+8 k+2 18
Ans.
But Q lies on the line Ay-3x-2=0
4 (k+2)-3(h+~)-2-0
4k+8-3-24-6-0
4k-3h-22=0·
-(2)
the equation of the locus of R is given by
Ans
Let the equation of the circle be 2
(a−b)+~(a+b)
Since it passes through. (5,-5) and (0,6),
a+b
+2ab
a+b
a+b
a
a+b
Ans
(a+b)~~(a−b)
1-2 (a+b)b−a(a−b }, b-a
+2ab-a
(a−b)-—(a+b)
52 +32+2(5) g + 2(−3)f+c=0 10g-6f+c• 34
and S.
(1)
(2)
0*+62+2g(0)+2(6) f+c=0
12f+c=-36
Since its centre (g,f) lies, on the line 2x-3y-6=0;
-- 2(-8)=3(−f)-b=0°
·−2g+3f=6 -- (1)-(2); 5E-9f=1. |(4)+3x(3): g=-19
-32.
f=-- and e=92.
the required circle is x2+y2+2(−19)x+2(−3=)y+92=0
3x2 +3y2-114x-64y+276-0
Ans.
-a(a+b)
Let the equation of the tangent be ynx+c and no2
y=2x+C
(1)
(2)
-28b-b2
Ans.
AB: 2x+3y=0 BC-2x=0
CA 4x+5y-7=0
The equation of the line:: CF through C, the intersection of BG and AC is given by
4x+5y=7+k 5+ky-
i.e. CF: (4-2kj
Again BE: 2x+3y+k¿(y=2x)=0 1.e. (2−2k,)x+(3+k ̧}y=U
CFLAB.
(−(4−2kg ) )
5+k
----1
2(4~2k, )+3(5+k, )=0
Since BEL ACİ,
-(2-2k)
and_x+y=-5-0
+(2x+c) ~5=0
2
Since (1) is a tangent (2), we have
(4c) −4(5) (c ̃−5)=0
12:
c=25. c=±5
the required equations of the tangents are y=2x+5 and y-2x-5./
ADS.
Let the point of contact be (h,k).
This point lies on y=2x±5, .. k=2(h)±5
also ()(2)=-1.
.. 2k=-b Solving (3) and (4):
h=12k1
the points of contact are (-2,1) and (2,-1)
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