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JAMB Economics 1990 Question 19

Question 19

Market Structures

The tailoring service is competitive partly because it consists of a large number of

  1. A.large-scale enterprises
  2. B.medium scale enterprises
  3. C.small scale enterprises
  4. D.government-owned enterprises
Show the answer and explanation

Answer: C (small scale enterprises)

Explanation

Tailoring needs little capital, so many small firms enter and compete with one another.