Post Utme Economics Questions
Question 316:
One reason firms expand production is:
- A To eliminate specialization
- B To achieve economies of scale
- C To increase production inefficiency
- D To reduce technological usage
Question 317:
Diseconomies of scale may lead to:
- A Falling communication problems
- B Rising average production costs
- C Improved managerial efficiency
- D Better labour coordination
Question 318:
One advantage of large-scale production is:
- A Increased communication failure
- B Lower average production cost
- C Higher production wastage
- D Reduced market efficiency
Question 319:
One disadvantage of large-scale production is:
- A Management coordination problems
- B Greater specialization benefits
- C Improved technical efficiency
- D Easier access to finance
Question 320:
Opportunity cost means:
- A Actual money payment
- B Government taxation amount
- C Best alternative forgone
- D Variable production expense