Post Utme Summit University 2023 Commerce Question 16

Practice objective / multiple choice question 16 from the 2023 Post Utme Summit University Commerce examination.

Post Utme Summit University 2023 Commerce Objective / Multiple Choice
Question 16 POST_UTME_SUMMIT_UNIVERSITY • 2023 • COMMERCE • objective

The concept of specialization in commerce refers to the process by which a firm focuses on producing a specific product or service, thereby increasing its efficiency and reducing costs. Which of the following is a benefit of specialization?

Answer Options

A. Increased competition
B. Improved quality control
Correct Answer C. Reduced production costs
D. Increased market share
Correct Answer
C
Correct Option:
Reduced production costs

About This Question

This is Post Utme Summit University 2023 Commerce Question 16. It is one of the objective questions from the 2023 Post Utme Summit University Commerce examination.

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