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JAMB Commerce 2014 Question 6

Question 6

Production

One of the major determinants of the volume of production is

  1. A.the market size.
  2. B.the availability of banks.
  3. C.sex distribution.
  4. D.government policy.
Show the answer and explanation

Answer: A (the market size.)

Explanation

Firms produce as much as they can sell, so the size of the market limits production.