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WAEC Economics 1998 Question 15

Question 15

Industrialisation

One of the advantages of localization of industry is that firms

  1. A.make abnormal profits
  2. B.are given tax holidays
  3. C.are united under one management
  4. D.pay high wages
  5. E.can have a large pool of skilled labour
Show the answer and explanation

Answer: E (can have a large pool of skilled labour)

Explanation

When firms of one industry gather in an area, a pool of workers with the right skills builds up there.