Post Utme Joseph Ayo Babalola University 2019 Economics Question 21

Practice objective / multiple choice question 21 from the 2019 Post Utme Joseph Ayo Babalola University Economics examination.

Post Utme Joseph Ayo Babalola University 2019 Economics Objective / Multiple Choice
Question 21 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2019 • ECONOMICS • 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. Which of the following statements best describes the opportunity \cost of a country?

Answer Options

Correct Answer A. The value of the next best alternative
B. The quantity of the next best alternative
C. The price of the next best alternative
D. The quality of the next best alternative
Correct Answer
A
Correct Option:
The value of the next best alternative

About This Question

This is Post Utme Joseph Ayo Babalola University 2019 Economics Question 21. It is one of the objective questions from the 2019 Post Utme Joseph Ayo Babalola University Economics examination.

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