Post Utme Al Hikmah University 2019 Economics Question 1

Practice objective / multiple choice question 1 from the 2019 Post Utme Al Hikmah University Economics examination.

Post Utme Al Hikmah University 2019 Economics Objective / Multiple Choice
Question 1 POST_UTME_AL-HIKMAH_UNIVERSITY • 2019 • ECONOMICS • objective

The concept of scarcity in economics implies that the production of one good is at the expense of another good. What is the opportunity \cost of producing more of a particular good?

Answer Options

Correct Answer A. The value of the next best alternative good
B. The quantity of the next best alternative good
C. The price of the next best alternative good
D. The income of the next best alternative good
Correct Answer
A
Correct Option:
The value of the next best alternative good

About This Question

This is Post Utme Al Hikmah University 2019 Economics Question 1. It is one of the objective questions from the 2019 Post Utme Al Hikmah University Economics examination.

View More Post Utme Al Hikmah University 2019 Economics Questions More Post Utme Al Hikmah University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support