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JAMB Economics 1992 Question 23

Question 23

Business Organisations

The type of business organizations mostly used for producing public goods in Nigeria is

  1. A.sole proprietorship
  2. B.limited liability companies
  3. C.co-operative societies
  4. D.statutory corporations
Show the answer and explanation

Answer: D (statutory corporations)

Explanation

Public utilities such as power, water and railways are run by statutory corporations set up by law.