Business Studies·Types of business activity · NSSCO 1.2
Measuring the size of a business & the survival of small firms
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How do we say whether a business is small, medium or large? And how do tiny spaza shops and street traders keep going right next to giant supermarkets? In this lesson we meet the main methods of measuring business size, learn why no single method is perfect, work out market share on the board, see why we classify and measure firms at all, and finish with the survival of small firms — a topic that explains a huge part of the Namibian economy.
What you'll learn in this lesson
By the end you should be able to (NSSCO Business Studies 1.2):
- State the main methods of measuring the size of businesses (legal form of ownership, nature of business, nature of product, capital employed, total assets, number of employees, level of technology, market share, turnover, profitability, value of output)
- Explain the purpose of the classification and measurement of business units
- Explain the survival of small firms
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