Post Utme Joseph Ayo Babalola University 2022 Economics Question 6

Practice objective / multiple choice question 6 from the 2022 Post Utme Joseph Ayo Babalola University Economics examination.

Post Utme Joseph Ayo Babalola University 2022 Economics Objective / Multiple Choice
Question 6 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2022 • ECONOMICS • objective

The concept of scarcity in economics implies that the production of one good is limited by the availability of resources that could be used to produce another good. Which of the following is an example of an opportunity \cost?

Answer Options

A. The \cost of producing a good
B. The benefit of consuming a good
Correct Answer C. The opportunity \cost of producing a good
D. The \cost of not producing a good
Correct Answer
C
Correct Option:
The opportunity \cost of producing a good

About This Question

This is Post Utme Joseph Ayo Babalola University 2022 Economics Question 6. It is one of the objective questions from the 2022 Post Utme Joseph Ayo Babalola University Economics examination.

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