Post Utme Achievers University 2023 Economics Question 21

Practice objective / multiple choice question 21 from the 2023 Post Utme Achievers University Economics examination.

Post Utme Achievers University 2023 Economics Objective / Multiple Choice
Question 21 POST_UTME_ACHIEVERS_UNIVERSITY • 2023 • ECONOMICS • objective

The concept of scarcity in economics implies that the production of one good is at the expense of another. Which of the following is a correct example of scarcity?

Answer Options

Correct Answer A. A farmer must choose between planting wheat or corn due to limited land.
B. A consumer must choose between buying a new car or a new smartphone.
C. A country must choose between investing in education or healthcare.
D. A bu\siness must choose between hiring more employees or increa\sing production.
Correct Answer
A
Correct Option:
A farmer must choose between planting wheat or corn due to limited land.

About This Question

This is Post Utme Achievers University 2023 Economics Question 21. It is one of the objective questions from the 2023 Post Utme Achievers University Economics examination.

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