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WAEC Commerce 1994 Question 40

Question 40

Occupation

A group of firms that produce similar goods or services is called

  1. A.an industry
  2. B.a trade association
  3. C.a cartel
  4. D.a holding company
  5. E.an amalgam
Show the answer and explanation

Answer: A (an industry)

Explanation

An industry is all the firms producing similar goods.