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WAEC Commerce 2004 Question 8

Question 8

Business Combinations

The amalgamation of firms engaged in cotton processing and the manufacturing of textiles is

  1. A.horizontal integration
  2. B.vertical integration
  3. C.lateral integration
  4. D.joint venture
Show the answer and explanation

Answer: B (vertical integration)

Explanation

Firms at different stages of producing the same good combine in vertical integration.