Post Utme Mountain Top University 2022 Economics Question 16

Practice objective / multiple choice question 16 from the 2022 Post Utme Mountain Top University Economics examination.

Post Utme Mountain Top University 2022 Economics Objective / Multiple Choice

Question 16 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2022 • ECONOMICS • objective

The concept of scarcity in economics implies that the production of one good is limited by the availability of resources that could be used to produce another good. Which of the following is a correct example of scarcity?

Answer Options

A. A farmer has 100 hectares of land to grow either wheat or maize.

Correct Answer B. A country has a fixed amount of money to sp\end on either defense or education.

C. A factory has a limited number of machines to produce either cars or bicycles.

D. A person has a choice between eating a sandwich or drinking a glass of water.

Correct Answer

Correct Option:

A country has a fixed amount of money to sp\end on either defense or education.

About This Question

This is Post Utme Mountain Top University 2022 Economics Question 16. It is one of the objective questions from the 2022 Post Utme Mountain Top University Economics examination.

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