One of the factors of determining the volume of production is?

By: |Published on: Dec 11|Categories: Commerce JAMB| 0 comments

A. availability of forex
B. availability of storage facilities
C. the location of the business
D. the number of skilled manpower

Correct Answer:

Option D – the number of skilled manpower

Explanation

There are various factors which affect the volume of production which includes:

  • Availability of natural resources.
  • Availability of raw materials.
  • Technology.
  • Availability of capital.
  • Transport facilities.
  • Political conditions.
  • Climate.
  • Efficiency of labour.

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