Question on: JAMB Economics - 1995
The major reason for the survival of small shops despite competition from large business enterprises is because of?
A
the small capital outlay involved
B
regularity and constant supply of commodities by them
C
their local srvices and longer hours of operation
D
their level of managerial competence
Ask EduPadi AI for a detailed answer
Correct Option: C
The major reason for the survival of small shops, even when large businesses are present, is their ability to offer local services and often operate for longer hours.
- Local Services: Small shops often cater to the specific needs of their immediate communities, offering convenience and personalized service that larger businesses may not.
- Longer Hours of Operation: Small shops can provide goods and services during hours when larger businesses are closed, offering convenience to customers.
The other options are not the primary reasons:
- A: While the small capital outlay is a factor in starting a small shop, it does not ensure its survival against larger businesses.
- B: Regularity and constant supply of commodities are important but not a unique advantage for small shops, as large businesses can also achieve this.
Add your answer
Please share this, thanks!
No responses