Post Utme Lasu 2018 Economics Question 16

Practice objective / multiple choice question 16 from the 2018 Post Utme Lasu Economics examination.

Post Utme Lasu 2018 Economics Objective / Multiple Choice

Question 16 POST_UTME_LASU • 2018 • ECONOMICS • objective

U\sing the concept of opportunity \cost, explain why a country may choose to import a good even if it can be produced domestically.

Correct Answer A. The opportunity \cost of producing the good domestically is too high.

B. The good is not produced domestically due to lack of resources.

C. The country wants to specialize in producing other goods.

D. The good is not produced domestically due to lack of techno\logy.

Correct Answer

Correct Option:

The opportunity \cost of producing the good domestically is too high.

This is Post Utme Lasu 2018 Economics Question 16. It is one of the objective questions from the 2018 Post Utme Lasu Economics examination.

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