Post Utme Ksu 2017 Economics Question 11

Practice objective / multiple choice question 11 from the 2017 Post Utme Ksu Economics examination.

Post Utme Ksu 2017 Economics Objective / Multiple Choice

Question 11 POST_UTME_KSU • 2017 • ECONOMICS • objective

The concept of scarcity in economics implies that the available resources are insufficient to meet the unlimited wants of individuals. Which of the following is a consequence of scarcity?

Correct Answer A. Inefficient allocation of resources

B. Increased production to meet demand

C. Reduced consumption to meet demand

D. No impact on production or consumption

Correct Answer

Correct Option:

Inefficient allocation of resources

This is Post Utme Ksu 2017 Economics Question 11. It is one of the objective questions from the 2017 Post Utme Ksu Economics examination.

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