One of the advantages of large scale production is that
There is a rise in the cost of administration
Consumers sacrtifice their indidvidual tatstes
The firm can use labour-saving machinery
The demand for a firm's product becomes localized
Correct answer is C
No explanation has been provided for this answer.
Land is a factor of production because it
Is a free gift of nature
Contains valuable mineral resources
Assists in the creation of utility
Is owned by individuals and governments
Correct answer is C
No explanation has been provided for this answer.
Which of the following is a reward to a factor of production?
Interest
Donation
Gifts
Subsidy
Correct answer is A
No explanation has been provided for this answer.
Warehouse facilities in the distribution and marketing of products are provided by
Manufacturer
Wholesaler
Retailer
Advertisers
Correct answer is B
No explanation has been provided for this answer.
Subsistence production means that goods and services are
Produced for consumption only
Sold to others
Sold in the country
Produced for the market
Correct answer is A
No explanation has been provided for this answer.