Post Utme Covenant University 2017 Commerce Question 1

Practice objective / multiple choice question 1 from the 2017 Post Utme Covenant University Commerce examination.

Post Utme Covenant University 2017 Commerce Objective / Multiple Choice
Question 1 POST_UTME_COVENANT_UNIVERSITY • 2017 • COMMERCE • objective

A firm specializes in producing a single product, which is a type of commodity. The production process involves a series of stages, each with its own set of inputs and outputs. What is the primary advantage of specialization in this context?

Answer Options

Correct Answer A. Increased efficiency due to division of labor
B. Reduced costs due to economies of scale
C. Improved product quality due to focus on a single product
D. Enhanced customer satisfaction due to tailored products
Correct Answer
A
Correct Option:
Increased efficiency due to division of labor

About This Question

This is Post Utme Covenant University 2017 Commerce Question 1. It is one of the objective questions from the 2017 Post Utme Covenant University Commerce examination.

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