One of the major determinants of the volume of production is?

By: |Published on: Dec 12|Categories: Commerce JAMB| 0 comments

A. the market size
B. the availability of banks
C. sex distribution
D. government policy

Correct Answer:

Option A – the market size

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 people.

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