Post Utme Skyline University 2020 Economics Question 20

Practice objective / multiple choice question 20 from the 2020 Post Utme Skyline University Economics examination.

Post Utme Skyline University 2020 Economics Objective / Multiple Choice
Question 20 POST_UTME_SKYLINE_UNIVERSITY • 2020 • ECONOMICS • objective

U\sing the concept of opportunity \cost, explain why a country may choose to import a good that it could produce domestically.

Answer Options

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

About This Question

This is Post Utme Skyline University 2020 Economics Question 20. It is one of the objective questions from the 2020 Post Utme Skyline University Economics examination.

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