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WAEC Commerce 2002 Question 50

Question 50

Trade Associations

A voluntary body formed by people in the same line of busines is known as

  1. A.trade union
  2. B.trade association
  3. C.cartel
  4. D.employers' association.
Show the answer and explanation

Answer: B (trade association)

Explanation

Traders in the same line of business form a trade association to protect their interests.