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WAEC Economics 2003 Question 24

Question 24

Business Organisations

The most common type of business in West African countries is

  1. A.joint-stock companies
  2. B.sole proprietorships
  3. C.partnerships
  4. D.public enterprises
Show the answer and explanation

Answer: B (sole proprietorships)

Explanation

Sole proprietorships (petty traders, artisans, farmers) are by far the most numerous businesses.