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WAEC Commerce 1996 Question 1

Question 1

Production

Which of the following is not the duty of an entrepreneur?

  1. A.Provision of initial capital
  2. B.Bearing of risks
  3. C.Organization of other factors of production
  4. D.Decision on what to produce
  5. E.Decision on the amount of tax to pay
Show the answer and explanation

Answer: E (Decision on the amount of tax to pay)

Explanation

The entrepreneur provides capital, bears risk, organises the other factors and decides what to produce; tax is fixed by government.