Post Utme Eksu 2022 Economics Question 1

Practice objective / multiple choice question 1 from the 2022 Post Utme Eksu Economics examination.

Post Utme Eksu 2022 Economics Objective / Multiple Choice
Question 1 POST_UTME_EKSU • 2022 • 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 allocated to the production of another good. This is an example of the law of?

Answer Options

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

About This Question

This is Post Utme Eksu 2022 Economics Question 1. It is one of the objective questions from the 2022 Post Utme Eksu Economics examination.

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