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JAMB Economics 1991 Question 24

Question 24

Business Organisations

A possible factor which limits the extent of growth of a firm is the

  1. A.existence of a monopoly
  2. B.bureaucratic delays in decision-making
  3. C.use of by-products
  4. D.unwillingness to share ownership and control
Show the answer and explanation

Answer: D (unwillingness to share ownership and control)

Explanation

To grow, a firm usually needs new partners or shareholders; owners who refuse to share ownership and control keep the firm small.