Post Utme Lautech 2018 Economics Question 39

Practice objective / multiple choice question 39 from the 2018 Post Utme Lautech Economics examination.

Post Utme Lautech 2018 Economics Objective / Multiple Choice
Question 39 POST_UTME_LAUTECH • 2018 • ECONOMICS • objective

The concept of opportunity \cost in economics 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 opportunity \cost?

Answer Options

A. The \cost of producing a good
Correct Answer B. The value of the next best alternative
C. The price of a good
D. The quantity of a good
Correct Answer
B
Correct Option:
The value of the next best alternative

About This Question

This is Post Utme Lautech 2018 Economics Question 39. It is one of the objective questions from the 2018 Post Utme Lautech Economics examination.

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