Teaching UGC NET Mock Test Series 2025 (Paper 1 & 2) Business Environment and International Business Concepts and elements of business environment
Match the items of List - II with the items of List - I and indicate the code of correct matching. The items relate to economies of scale/scope.
| List - I | List - II |
| (a) Economies of scale | (i) arise with lower average costs of manufacturing a product when two complementary products are produced by a single firm |
| (b) Internal economies | ii) Mean lowering of costs of production by producing in bulk |
| c) External economies | (iii) Arise when cost per unit depends on size of the firm |
| (d) Economies of scope | (iv) Arise when cost per unit depends on the size of the industry, not the firm |
1
(a) -(ii), (b) - (iv), (c) - (i), (d) - (iii)
2
(a) - (i), (b) - (ii), (c) - (iii), (d) - (iv)
3
(a) - (ii), (b) - (iii), (c) - (iv), (d) - (i)
4
(a) - (iv), (b) - (iii), (c) - (ii), (d) - (i)