Money/ business and consumerism (Easy) Quiz Home › IELTS › IELTS English Vocabulary › Money/ business and consumerism (Easy) 📝 IELTS – English Vocabulary – Money/ business and consumerism – Easy 20 questions · 15 min timer · Explanations included · Free 1. What does 'economies of scale' refer to? The cost advantages that enterprises obtain due to their scale of operation. The increase in costs as a company grows larger. The total output produced by a company. The financial losses incurred by a company. None Show Hint 'Economies of scale' refer to the cost advantages that enterprises obtain due to their scale of operation. It is not an increase in costs or related to output or losses. 2. What does the term 'revenue' refer to in a business context? The profit a company makes after all expenses are deducted. The number of employees working in a company. The total income generated by a company from its business activities. The amount of money a company spends on advertising. None Show Hint 'Revenue' refers to the total income generated by a company from its business activities. It is not the profit, which is calculated after deducting expenses. Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Click Submit to see your final score! Previous Start Quiz Next Time's up
