Post Utme Rhema University 2019 Economics Question 1

Practice objective / multiple choice question 1 from the 2019 Post Utme Rhema University Economics examination.

Post Utme Rhema University 2019 Economics Objective / Multiple Choice
Question 1 POST_UTME_RHEMA_UNIVERSITY • 2019 • 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 opportunity \cost of importing it.
B. The opportunity \cost of importing the good is lower than the opportunity \cost of producing it domestically.
Correct Answer C. The opportunity \cost of producing the good domestically is higher than the opportunity \cost of importing it.
D. The opportunity \cost of importing the good is higher than the opportunity \cost of producing it domestically.
Correct Answer
C
Correct Option:
The opportunity \cost of producing the good domestically is higher than the opportunity \cost of importing it.

About This Question

This is Post Utme Rhema University 2019 Economics Question 1. It is one of the objective questions from the 2019 Post Utme Rhema University Economics examination.

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