Post Utme Pan Atlantic University 2017 Economics Question 16

Practice objective / multiple choice question 16 from the 2017 Post Utme Pan Atlantic University Economics examination.

Post Utme Pan Atlantic University 2017 Economics Objective / Multiple Choice
Question 16 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2017 • ECONOMICS • objective

U\sing the concept of opportunity \cost, explain why a country may choose to import a good even if it can be produced domestically.

Answer Options

A. The opportunity \cost of producing the good domestically is lower than the \cost of importing it.
B. The opportunity \cost of importing the good is lower than the \cost of producing it domestically.
Correct Answer C. The opportunity \cost of producing the good domestically is higher than the \cost of importing it.
D. The opportunity \cost of importing the good is higher than the \cost of producing it domestically.
Correct Answer
C
Correct Option:
The opportunity \cost of producing the good domestically is higher than the \cost of importing it.

About This Question

This is Post Utme Pan Atlantic University 2017 Economics Question 16. It is one of the objective questions from the 2017 Post Utme Pan Atlantic University Economics examination.

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