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WAEC Commerce 1992 Question 2

Question 2

Production

Division of labour is limited by

  1. A.non-availability of special skills
  2. B.The problem of mass production
  3. C.the extent of supply
  4. D.the extent of the market
  5. E.non-availability of money
Show the answer and explanation

Answer: D (the extent of the market)

Explanation

Specialisation only pays if there is a big enough market to buy all the extra output, so the size of the market limits division of labour.