Post Utme Futo 2019 Commerce Question 1

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

Post Utme Futo 2019 Commerce Objective / Multiple Choice
Question 1 POST_UTME_FUTO • 2019 • COMMERCE • objective

A firm specializes in producing only one good. This specialization allows the firm to produce the good at a lower cost due to economies of scale. What is the name of this phenomenon?

Answer Options

Correct Answer A. Economies of scale
B. Division of labor
C. Comparative advantage
D. Opportunity cost
Correct Answer
A
Correct Option:
Economies of scale

About This Question

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

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