Post Utme Abu 2019 Economics Question 9

Practice objective / multiple choice question 9 from the 2019 Post Utme Abu Economics examination.

Post Utme Abu 2019 Economics Objective / Multiple Choice
Question 9 POST_UTME_ABU • 2019 • ECONOMICS • objective

The concept of opportunity \cost is closely related to the concept of scarcity. Which of the following best describes the relationship between opportunity \cost and scarcity?

Answer Options

Correct Answer A. Opportunity \cost is the \cost of choo\sing one option over another.
B. Opportunity \cost is the \cost of not choo\sing an option.
C. Opportunity \cost is the \cost of scarcity.
D. Opportunity \cost is the benefit of scarcity.
Correct Answer
A
Correct Option:
Opportunity \cost is the \cost of choo\sing one option over another.

About This Question

This is Post Utme Abu 2019 Economics Question 9. It is one of the objective questions from the 2019 Post Utme Abu Economics examination.

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