Post Utme Futa 2021 Commerce Question 36

Practice objective / multiple choice question 36 from the 2021 Post Utme Futa Commerce examination.

Post Utme Futa 2021 Commerce Objective / Multiple Choice
Question 36 POST_UTME_FUTA • 2021 • COMMERCE • objective

The concept of comparative advantage in international trade is based on the idea that countries should specialize in producing goods for which they have a lower opportunity cost. What is the opportunity cost of producing a good?

Answer Options

Correct Answer A. The cost of producing the good in terms of other goods that could be produced instead
B. The cost of producing the good in terms of labor hours
C. The cost of producing the good in terms of raw materials
D. The cost of producing the good in terms of capital investment
Correct Answer
A
Correct Option:
The cost of producing the good in terms of other goods that could be produced instead

About This Question

This is Post Utme Futa 2021 Commerce Question 36. It is one of the objective questions from the 2021 Post Utme Futa Commerce examination.

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