Post Utme Summit University 2022 Commerce Question 16

Practice objective / multiple choice question 16 from the 2022 Post Utme Summit University Commerce examination.

Post Utme Summit University 2022 Commerce Objective / Multiple Choice
Question 16 POST_UTME_SUMMIT_UNIVERSITY • 2022 • COMMERCE • objective

The concept of comparative advantage in international trade is based on the idea that countries should specialize in producing goods for which they have a lower opportunity cost. Which of the following statements best describes the opportunity cost of a country?

Answer Options

Correct Answer A. The value of a good that could have been produced instead
B. The quantity of a good that could have been produced instead
C. The price of a good that could have been produced instead
D. The quality of a good that could have been produced instead
Correct Answer
A
Correct Option:
The value of a good that could have been produced instead

About This Question

This is Post Utme Summit University 2022 Commerce Question 16. It is one of the objective questions from the 2022 Post Utme Summit University Commerce examination.

View More Post Utme Summit University 2022 Commerce Questions More Post Utme Summit University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support