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JAMB Commerce 2008 Question 30

Question 30

Production

The resources which are necessary for business development include

  1. A.manufacturing, materials, mentors and money
  2. B.merchant, materials, mentors and money
  3. C.man, money, materials and machines
  4. D.machines, manufacturing, money and materials.
Show the answer and explanation

Answer: C (man, money, materials and machines)

Explanation

A business needs the 4 Ms: men (labour), money, materials and machines.