Post Utme Coal City University 2018 Economics Question 26

Practice objective / multiple choice question 26 from the 2018 Post Utme Coal City University Economics examination.

Post Utme Coal City University 2018 Economics Objective / Multiple Choice
Question 26 POST_UTME_COAL_CITY_UNIVERSITY • 2018 • 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?

Answer Options

A. Opportunity Cost
B. Diminishing Marginal Utility
C. Law of Increa\sing Costs
Correct Answer D. Law of Diminishing Returns
Correct Answer
D
Correct Option:
Law of Diminishing Returns

About This Question

This is Post Utme Coal City University 2018 Economics Question 26. It is one of the objective questions from the 2018 Post Utme Coal City University Economics examination.

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