Post Utme Eksu 2025 Economics Question 1

Practice objective / multiple choice question 1 from the 2025 Post Utme Eksu Economics examination.

Post Utme Eksu 2025 Economics Objective / Multiple Choice
Question 1 POST_UTME_EKSU • 2025 • 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 leads to a trade-off between the production of different goods. What is the opportunity \cost of producing more of a particular good?

Answer Options

Correct Answer A. The value of the next best alternative good that could have been produced with the same resources.
B. The \cost of producing the next best alternative good.
C. The difference between the actual output and the potential output.
D. The value of the resources used to produce the good.
Correct Answer
A
Correct Option:
The value of the next best alternative good that could have been produced with the same resources.

About This Question

This is Post Utme Eksu 2025 Economics Question 1. It is one of the objective questions from the 2025 Post Utme Eksu Economics examination.

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