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WAEC Economics 2007 Question 19

Question 19

Business Organisations

The practice whereby a business is owned by two or more independent firms is termed

  1. A.indigenization
  2. B.joint venture
  3. C.commercialization
  4. D.foreign investment.
Show the answer and explanation

Answer: B (joint venture)

Explanation

A joint venture is a business jointly owned by two or more firms (or a firm and government).