Post Utme Christopher University 2021 Commerce Question 26

Practice objective / multiple choice question 26 from the 2021 Post Utme Christopher University Commerce examination.

Post Utme Christopher University 2021 Commerce Objective / Multiple Choice
Question 26 POST_UTME_CHRISTOPHER_UNIVERSITY • 2021 • COMMERCE • objective

The concept of comparative advantage in international trade is based on the idea 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

A. The value of the good in terms of other goods
B. The cost of producing the good in terms of labor and capital
Correct Answer C. The opportunity cost of producing the good in terms of other goods
D. The market price of the good
Correct Answer
C
Correct Option:
The opportunity cost of producing the good in terms of other goods

About This Question

This is Post Utme Christopher University 2021 Commerce Question 26. It is one of the objective questions from the 2021 Post Utme Christopher University Commerce examination.

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