Post Utme Mountain Top University 2022 Economics Question 21

Practice objective / multiple choice question 21 from the 2022 Post Utme Mountain Top University Economics examination.

Post Utme Mountain Top University 2022 Economics Objective / Multiple Choice

Question 21 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2022 • 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 a correct example of opportunity \cost?

Answer Options

A. A farmer chooses to grow wheat instead of maize.

B. A person chooses to eat a sandwich instead of a salad.

Correct Answer C. A company chooses to invest in a new project instead of expanding an existing one.

D. A government chooses to sp\end money on defense instead of education.

Correct Answer

Correct Option:

A company chooses to invest in a new project instead of expanding an existing one.

About This Question

This is Post Utme Mountain Top University 2022 Economics Question 21. It is one of the objective questions from the 2022 Post Utme Mountain Top University Economics examination.

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