One reason why small scale businesses are very common in West Africa is that

Assessment: WAEC SSCE - Economics - 2012 (Objective) Subject: Economics

Question 1 Report

One reason why small scale businesses are very common in West Africa is that

Answer Details
Small scale businesses are very common in West Africa because their initial capital is easy to raise. Small scale businesses require a small amount of capital to start, which is easily available to entrepreneurs in West Africa. This is in contrast to large businesses that require significant amounts of capital to start and run, which is often difficult to obtain. Additionally, small scale businesses are often managed by the owners themselves or their family members, which means that they can make quick decisions and adapt to changing market conditions more easily than large businesses with complex management structures.

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning