JAMB - Commerce (2014 - No. 5)
One of the major determinants of the volume of production is
the market size
the availability of banks
sex distribution
government policy
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.