Post Utme Ksu 2020 Economics Question 14

Practice objective / multiple choice question 14 from the 2020 Post Utme Ksu Economics examination.

Post Utme Ksu 2020 Economics Objective / Multiple Choice
Question 14 POST_UTME_KSU • 2020 • ECONOMICS • objective

The concept of opportunity \cost is a fundamental principle in economics that refers to the value of the next best alternative that is given up when a choice is made. Which of the following is an example of an opportunity \cost?

Answer Options

A. The \cost of producing a good
B. The \cost of purcha\sing a good
Correct Answer C. The value of the next best alternative given up
D. The value of the good produced
Correct Answer
C
Correct Option:
The value of the next best alternative given up

About This Question

This is Post Utme Ksu 2020 Economics Question 14. It is one of the objective questions from the 2020 Post Utme Ksu Economics examination.

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