A firm's main aim is to

Assessment: WAEC SSCE - Economics - 2011 (Objective) Subject: Economics

Question 1 Report

A firm's main aim is to

Answer Details
A firm's main aim is to maximize profits. This means that the firm's goal is to earn as much revenue as possible while minimizing costs. By doing so, the firm can generate profits, which can then be reinvested into the business or distributed to shareholders. While there may be other objectives that a firm may pursue, such as increasing market share or satisfying the ambitions of its managers, ultimately the firm's success is measured by its ability to generate profits.
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