Post Utme Oau 2019 Economics Question 24

Practice objective / multiple choice question 24 from the 2019 Post Utme Oau Economics examination.

Post Utme Oau 2019 Economics Objective / Multiple Choice
Question 24 POST_UTME_OAU • 2019 • ECONOMICS • objective

The concept of scarcity in economics implies that the wants of individuals are unlimited, while the resources available to satisfy these wants are limited. Which of the following is a consequence of this scarcity?

Answer Options

Correct Answer A. Inefficient allocation of resources
B. Increased economic growth
C. Reduced poverty
D. Improved s\tandard of living
Correct Answer
A
Correct Option:
Inefficient allocation of resources

About This Question

This is Post Utme Oau 2019 Economics Question 24. It is one of the objective questions from the 2019 Post Utme Oau Economics examination.

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