Which is the type of integration when one firm merges with or takes over another one in the same industry but at the different stages of production?
Horizontal
Vertical
Conglomerate
Diversification
When a business takes over another business, it is termed:
Internal growth
External growth
Merger
Substitution
Which sector is made up of businesses not owned by the government?
Private
Public
Both 1 and 2
Service
In which of the following economy, the government or the state plans and controls the use of resources?
Free market economy
Command economy
Mixed economy
Capitalist economy
Which of the following is also called integration?
Factors of production
Liberalisation
Takeover
Conglomerate integration is also known as:
Globalisation
Industrialisation
Which sector of industry manufactures goods using the raw materials provided by the primary sector?
Primary
Secondary
Tertiary
Quaternary
How many different types of economic systems are there?
Two
Three
Four
Five