Post Utme Elizade University 2021 Commerce Question 28

Practice objective / multiple choice question 28 from the 2021 Post Utme Elizade University Commerce examination.

Post Utme Elizade University 2021 Commerce Objective / Multiple Choice
Question 28 POST_UTME_ELIZADE_UNIVERSITY • 2021 • COMMERCE • objective

A consumer is considering purchasing a product that has a price of ₦1000. The consumer's budget is ₦500. What is the correct interpretation of this scenario?

Answer Options

A. The consumer has a budget surplus.
Correct Answer B. The consumer has a budget deficit.
C. The consumer has a budget equal to the price of the product.
D. The consumer has a budget greater than the price of the product.
Correct Answer
B
Correct Option:
The consumer has a budget deficit.

About This Question

This is Post Utme Elizade University 2021 Commerce Question 28. It is one of the objective questions from the 2021 Post Utme Elizade University Commerce examination.

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