Concentrating industries in one place is advantageous because there are gains in terms of_____________

Assessment: JAMB UTME - Economics - 2018 Subject: Economics

Question 1 Report

Concentrating industries in one place is advantageous because there are gains in terms of_____________

Answer Details

External economies of scale are economies of scale which a firm enjoys by virtue of being in an industry or environment where for instance, similar firms are located, as this question asks about. They are still economies of scale though, so technically B could also be correct. This is one of those tricky questions.

Read lesson note on Theory Of Consumer Behaviour (WAEC)
Read lesson note on Theory Of Production (WAEC)
Read lesson note on Market Structures (WAEC)
Read lesson note on Market Structure (JAMB)
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