Leroy is considering setting up a large IT business to produce website for companies in Jamaica. He has made a list of the advantages of setting up a large rather than a smaller business which he is going to present to a bank manager. Questions: Which of the following advantages should be classified as internal and external economies? In each case, explain why. 1. There has been growth in the number of people with IT qualifications in Jamaica. 2. He would be able to borrow more cheaply than if he set up as a small business. 3. Jamaica has been developing a reputation as a specialist provider of IT services. 4. Leroy would be able to afford to invest in more sophisticated IT systems. 5. He would be able to spread his risks by providing website to more IT businesses.

Leroy is considering setting up a large IT business to produce website for companies in Jamaica. He has made a list of the advantages of setting up a large rather than a smaller business which he is going to present to a bank manager. Questions: Which of the following advantages should be classified as internal and external economies? In each case, explain why. 1. There has been growth in the number of people with IT qualifications in Jamaica. 2. He would be able to borrow more cheaply than if he set up as a small business. 3. Jamaica has been developing a reputation as a specialist provider of IT services. 4. Leroy would be able to afford to invest in more sophisticated IT systems. 5. He would be able to spread his risks by providing website to more IT businesses.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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