Post Utme Christopher University 2023 Geography Question 13

Practice objective / multiple choice question 13 from the 2023 Post Utme Christopher University Geography examination.

Post Utme Christopher University 2023 Geography Objective / Multiple Choice
Question 13 POST_UTME_CHRISTOPHER_UNIVERSITY • 2023 • GEOGRAPHY • objective

The economic concept of 'opportunity cost' refers to the value of the next best alternative foregone as a result of making a decision. Which of the following is an example of opportunity cost?

Answer Options

A. The cost of producing a good
B. The cost of transporting a good
Correct Answer C. The value of the next best alternative foregone
D. The value of the good produced
Correct Answer
C
Correct Option:
The value of the next best alternative foregone

About This Question

This is Post Utme Christopher University 2023 Geography Question 13. It is one of the objective questions from the 2023 Post Utme Christopher University Geography examination.

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