Post Utme Coal City University 2017 Commerce Question 1

Practice objective / multiple choice question 1 from the 2017 Post Utme Coal City University Commerce examination.

Post Utme Coal City University 2017 Commerce Objective / Multiple Choice
Question 1 POST_UTME_COAL_CITY_UNIVERSITY • 2017 • COMMERCE • objective

The concept of 'opportunity cost' is central to the study of economics. What is the opportunity cost of choosing a particular course of action?

Answer Options

A. The cost of the chosen action
B. The cost of the alternative action
Correct Answer C. The cost of the action that was not chosen
D. The cost of the action that was chosen
Correct Answer
C
Correct Option:
The cost of the action that was not chosen

About This Question

This is Post Utme Coal City University 2017 Commerce Question 1. It is one of the objective questions from the 2017 Post Utme Coal City University Commerce examination.

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