Question on: JAMB Economics - 1995

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. *