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WAEC Economics 2003 Question 8

Question 8

Theory of Production

A major limiting factor of mass production is

  1. A.efficient management
  2. B.adequate labour supply
  3. C.small size of the market
  4. D.adequate supply of raw materials.
Show the answer and explanation

Answer: C (small size of the market)

Explanation

Mass production is worthwhile only if there is a large market to buy the output.