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JAMB Economics 2003 Question 42

Question 42

Industrialisation

Two basic features common to an industry are

  1. A.production processes and source of capital
  2. B.source of capital and labour supply
  3. C.similarity of products and source of raw materials
  4. D.similarity of products and production processes
Show the answer and explanation

Answer: D (similarity of products and production processes)

Explanation

An industry is a group of firms making similar products, usually with similar production processes.