Post Utme Coal City University 2019 Economics Question 38

Practice objective / multiple choice question 38 from the 2019 Post Utme Coal City University Economics examination.

Post Utme Coal City University 2019 Economics Objective / Multiple Choice
Question 38 POST_UTME_COAL_CITY_UNIVERSITY • 2019 • ECONOMICS • objective

The concept of opportunity \cost is closely related to the concept of scarcity. Which of the following is a correct statement about opportunity \cost?

Answer Options

A. Opportunity \cost is the \cost of producing one good instead of another good.
B. Opportunity \cost is the \cost of producing one good instead of not producing any goods.
Correct Answer C. Opportunity \cost is the \cost of producing one good instead of producing another good.
D. Opportunity \cost is the \cost of producing one good instead of producing a third good.
Correct Answer
C
Correct Option:
Opportunity \cost is the \cost of producing one good instead of producing another good.

About This Question

This is Post Utme Coal City University 2019 Economics Question 38. It is one of the objective questions from the 2019 Post Utme Coal City University Economics examination.

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