Post Utme Lead City University 2017 Economics Question 12

Practice objective / multiple choice question 12 from the 2017 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2017 Economics Objective / Multiple Choice
Question 12 POST_UTME_LEAD_CITY_UNIVERSITY • 2017 • ECONOMICS • objective

The concept of opportunity \cost 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 revenue generated from selling a good
Correct Answer C. The value of the next best alternative that is given up
D. The \cost of importing a good
Correct Answer
C
Correct Option:
The value of the next best alternative that is given up

About This Question

This is Post Utme Lead City University 2017 Economics Question 12. It is one of the objective questions from the 2017 Post Utme Lead City University Economics examination.

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