Post Utme Abu 2021 Economics Question 31

Practice objective / multiple choice question 31 from the 2021 Post Utme Abu Economics examination.

Post Utme Abu 2021 Economics Objective / Multiple Choice

Question 31 POST_UTME_ABU • 2021 • ECONOMICS • objective

The concept of scarcity in economics implies that the available resources are insufficient to meet the unlimited wants of individuals. Which of the following is a consequence of scarcity?

Correct Answer A. Inefficient allocation of resources

B. Increased production of goods and services

C. Reduced consumption of goods and services

D. Increased income of individuals

Correct Answer

Correct Option:

Inefficient allocation of resources

This is Post Utme Abu 2021 Economics Question 31. It is one of the objective questions from the 2021 Post Utme Abu Economics examination.

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