Post Utme Joseph Ayo Babalola University 2023 Commerce Question 32

Practice objective / multiple choice question 32 from the 2023 Post Utme Joseph Ayo Babalola University Commerce examination.

Post Utme Joseph Ayo Babalola University 2023 Commerce Objective / Multiple Choice
Question 32 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2023 • COMMERCE • objective

The concept of comparative advantage in international trade suggests 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 an alternative good
B. The cost of importing the good
C. The cost of producing a different good
D. The cost of producing the same good
Correct Answer
A
Correct Option:
The cost of producing an alternative good

About This Question

This is Post Utme Joseph Ayo Babalola University 2023 Commerce Question 32. It is one of the objective questions from the 2023 Post Utme Joseph Ayo Babalola University Commerce examination.

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