Post Utme Greenfield University 2025 Economics Question 6

Practice objective / multiple choice question 6 from the 2025 Post Utme Greenfield University Economics examination.

Post Utme Greenfield University 2025 Economics Objective / Multiple Choice
Question 6 POST_UTME_GREENFIELD_UNIVERSITY • 2025 • ECONOMICS • objective

The concept of scarcity in economics implies that the production of one good or service is limited by the availability of resources, which can be used to produce other goods or services. This is an example of a trade-off between two competing goals. Which of the following is a correct statement about trade-offs?

Answer Options

A. Trade-offs are always voluntary.
Correct Answer B. Trade-offs involve a sacrifice of one good or service for another.
C. Trade-offs are always involuntary.
D. Trade-offs are only relevant in the short run.
Correct Answer
B
Correct Option:
Trade-offs involve a sacrifice of one good or service for another.

About This Question

This is Post Utme Greenfield University 2025 Economics Question 6. It is one of the objective questions from the 2025 Post Utme Greenfield University Economics examination.

View More Post Utme Greenfield University 2025 Economics Questions More Post Utme Greenfield University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support