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JAMB Economics 1982 Question 21

Question 21

Distributive Trade

Retailers are greater in number than wholesalers because

  1. A.retail business may not be registered or incorporated
  2. B.retail business requires less expertise
  3. C.retailers deal with final consumers
  4. D.all wholesale businesses are large enterprises
  5. E.all retail businesses are small enterprises.
Show the answer and explanation

Answer: B (retail business requires less expertise)

Explanation

Retailing needs little capital and skill, so many people can enter it, while wholesaling needs more capital, storage and know-how.