Post Utme Achievers University 2024 Economics Question 6

Practice objective / multiple choice question 6 from the 2024 Post Utme Achievers University Economics examination.

Post Utme Achievers University 2024 Economics Objective / Multiple Choice
Question 6 POST_UTME_ACHIEVERS_UNIVERSITY • 2024 • ECONOMICS • objective

The concept of scarcity in economics implies that the production of one good is limited by the availability of resources, which can be used to produce other goods. This is an example of a trade-off between:

Answer Options

A. GDP and GNP
B. Opportunity Cost and Consumer Surplus
Correct Answer C. Scarcity and Choice
D. Economic Growth and Development
Correct Answer
C
Correct Option:
Scarcity and Choice

About This Question

This is Post Utme Achievers University 2024 Economics Question 6. It is one of the objective questions from the 2024 Post Utme Achievers University Economics examination.

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