Post Utme Lasu 2019 Commerce Question 11

Practice objective / multiple choice question 11 from the 2019 Post Utme Lasu Commerce examination.

Post Utme Lasu 2019 Commerce Objective / Multiple Choice
Question 11 POST_UTME_LASU • 2019 • COMMERCE • objective

The concept of comparative advantage in international trade is based on the idea 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 the good in terms of other goods that could be produced instead
B. The cost of producing the good in terms of labor hours
C. The cost of producing the good in terms of capital investment
D. The cost of producing the good in terms of raw materials
Correct Answer
A
Correct Option:
The cost of producing the good in terms of other goods that could be produced instead

About This Question

This is Post Utme Lasu 2019 Commerce Question 11. It is one of the objective questions from the 2019 Post Utme Lasu Commerce examination.

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