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2000 WAEC Economics Theory What form of business enterprise would you recommend for a tailor? Give reasons for your...

Economics
WAEC 2000

What form of business enterprise would you recommend for a tailor? Give reasons for your answer.
 

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Explanation

The sole proprietorship or the one man business would be recommended for -a tailor. This is because:
(i) It is easy to set up.
(ii)The capital required is not large for that type of business.
(iii)The tailor can easily manage the operation 
without expert management from outside.
(iv) Tailors serve fragmented markets in West Africa and as such, a large operation would therefore, not be necessary
(v) Tailors need to be very familiar with their customers. The sole proprietorship is particularly suited for this.
(vi) The sole proprietorship can easily handle changing fashion and taste which the tailor's job entails. 
 


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WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts