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Economics · Oct / Nov 2023 · Paper 12 · Question 26

2281Firms and production

In some developing countries a large percentage of the population is involved in subsistence farming. What can be concluded from this?

  1. AEach family will be able to produce enough to live on.
  2. BProduction is unlikely to be capital intensive.
  3. CProduction will be efficient.
  4. DThere will be a high level of trade.

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Correct answer: B. Production is unlikely to be capital intensive.

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