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JAMB Commerce 2017 Question 34

Question 34

Business Units

A business organization that exploits the capabilities of a member to remedy the weaknesses of another is a

  1. A.cooperative
  2. B.joint venture
  3. C.partnership
  4. D.nominal partnership.
Show the answer and explanation

Answer: B (joint venture)

Explanation

In a joint venture, firms combine so that the strengths of one partner (e.g. technology) make up for the weaknesses of another (e.g. capital or local knowledge).