passwella.
Menu

JAMB Economics 1980 Question 42

Question 42

Theory of Production

Division of labour is limited by the

  1. A.availability of raw materials
  2. B.size of the labour force
  3. C.size of the firm
  4. D.absolute size of a country's population
  5. E.per capita income and number of potential buyers.
Show the answer and explanation

Answer: E (per capita income and number of potential buyers.)

Explanation

Division of labour is limited by the size of the market, which depends on the number of buyers and their incomes.