Post Utme Ksu 2018 Economics Question 23

Practice objective / multiple choice question 23 from the 2018 Post Utme Ksu Economics examination.

Post Utme Ksu 2018 Economics Objective / Multiple Choice

Question 23 POST_UTME_KSU • 2018 • ECONOMICS • objective

The concept of opportunity \cost is closely related to the concept of scarcity. Which of the following statements is true about opportunity \cost?

A. Opportunity \cost is the \cost of producing one unit of a good.

B. Opportunity \cost is the \cost of producing one unit of a good relative to another good.

C. Opportunity \cost is the benefit of producing one unit of a good.

Correct Answer D. Opportunity \cost is the \cost of not producing one unit of a good.

Correct Answer

Correct Option:

Opportunity \cost is the \cost of not producing one unit of a good.

This is Post Utme Ksu 2018 Economics Question 23. It is one of the objective questions from the 2018 Post Utme Ksu Economics examination.

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