Post Utme Ims U 2025 Economics Question 15

Practice objective / multiple choice question 15 from the 2025 Post Utme Ims U Economics examination.

Post Utme Ims U 2025 Economics Objective / Multiple Choice
Question 15 POST_UTME_IMS_U • 2025 • ECONOMICS • objective

The concept of opportunity \cost is closely related to the concept of scarcity. Opportunity \cost refers to the value of the next best alternative that could have been produced with the same resources. Which of the following is a correct example of an opportunity \cost?

Answer Options

A. The \cost of producing a good
B. The \cost of not producing a good
Correct Answer C. The value of the next best alternative that could have been produced with the same resources
D. The \cost of producing a service
Correct Answer
C
Correct Option:
The value of the next best alternative that could have been produced with the same resources

About This Question

This is Post Utme Ims U 2025 Economics Question 15. It is one of the objective questions from the 2025 Post Utme Ims U Economics examination.

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