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WAEC Economics 2024 Question 31

Question 31

Business Organisations

An advantage a small firm has over a large firm is that the former can better

  1. A.enjoy financial economies of scale.
  2. B.satisfy individual tastes.
  3. C.enjoy internal economies of scale.
  4. D.attract huge discounts on inputs.
Show the answer and explanation

Answer: B (satisfy individual tastes.)

Explanation

Small firms deal personally with customers and can meet individual tastes.