Post Utme Skyline University 2017 Commerce Question 6

Practice objective / multiple choice question 6 from the 2017 Post Utme Skyline University Commerce examination.

Post Utme Skyline University 2017 Commerce Objective / Multiple Choice

Question 6 POST_UTME_SKYLINE_UNIVERSITY • 2017 • COMMERCE • objective

The concept of 'opportunity cost' in economics refers to the value of the next best alternative foregone as a result of making a decision. Which of the following is an example of opportunity cost?

Answer Options

A. The cost of producing a good

Correct Answer B. The value of a good that is not produced

C. The cost of a good that is not consumed

D. The value of a good that is consumed

Correct Answer

Correct Option:

The value of a good that is not produced

About This Question

This is Post Utme Skyline University 2017 Commerce Question 6. It is one of the objective questions from the 2017 Post Utme Skyline University Commerce examination.

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