Post Utme Bowen University 2019 Commerce Question 1

Practice objective / multiple choice question 1 from the 2019 Post Utme Bowen University Commerce examination.

Post Utme Bowen University 2019 Commerce Objective / Multiple Choice
Question 1 POST_UTME_BOWEN_UNIVERSITY • 2019 • COMMERCE • objective

In a production system, specialization occurs when a firm focuses on producing a specific product or service, thereby increasing its efficiency and reducing costs. What is the term for this phenomenon?

Answer Options

A. Economies of scale
Correct Answer B. Division of labor
C. Product differentiation
D. Vertical integration
Correct Answer
B
Correct Option:
Division of labor

About This Question

This is Post Utme Bowen University 2019 Commerce Question 1. It is one of the objective questions from the 2019 Post Utme Bowen University Commerce examination.

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