Post Utme Abu 2021 Commerce Question 6

Practice objective / multiple choice question 6 from the 2021 Post Utme Abu Commerce examination.

Post Utme Abu 2021 Commerce Objective / Multiple Choice
Question 6 POST_UTME_ABU • 2021 • COMMERCE • objective

The concept of comparative advantage in international trade suggests that countries should specialize in producing goods for which they have a lower opportunity cost. What is the opportunity cost of producing a good?

Answer Options

Correct Answer A. The value of the good in terms of other goods that could be produced instead
B. The price of the good in the market
C. The quantity of the good produced
D. The quality of the good produced
Correct Answer
A
Correct Option:
The value of the good in terms of other goods that could be produced instead

About This Question

This is Post Utme Abu 2021 Commerce Question 6. It is one of the objective questions from the 2021 Post Utme Abu Commerce examination.

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