Vanguard Glassworks is a studio based in Murano, Venice, specializing in hand-blown custom neon art installations and historical glass restorations. Established in 1991, the business operates from a single canal-side workshop with just three master glassblowers. The founders have consistently declined opportunities to franchise the brand or automate any part of the melting and blowing process, catering to around 150 luxury architectural projects annually.
Explain one likely reason why this business has remained small.
3 exam-style questions on Edexcel A A Level Economics 3.1.1 Sizes and types of firms. Each one has a worked solution and a mark scheme showing where the marks go.