Post Utme Rsu 2023 Commerce Question 31

Practice objective / multiple choice question 31 from the 2023 Post Utme Rsu Commerce examination.

Post Utme Rsu 2023 Commerce Objective / Multiple Choice
Question 31 POST_UTME_RSU • 2023 • COMMERCE • objective

The concept of comparative advantage in international trade suggests that countries should specialize in producing goods for which they have a lower opportunity cost. What is the opportunity cost of producing a good?

Answer Options

Correct Answer A. The value of the good in terms of other goods that could be produced instead
B. The cost of producing the good in terms of labor and resources
C. The price of the good in the market
D. The quantity of the good produced
Correct Answer
A
Correct Option:
The value of the good in terms of other goods that could be produced instead

About This Question

This is Post Utme Rsu 2023 Commerce Question 31. It is one of the objective questions from the 2023 Post Utme Rsu Commerce examination.

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