Post Utme Summit University 2022 Economics Question 6

Practice objective / multiple choice question 6 from the 2022 Post Utme Summit University Economics examination.

Post Utme Summit University 2022 Economics Objective / Multiple Choice

Question 6 POST_UTME_SUMMIT_UNIVERSITY • 2022 • ECONOMICS • objective

The concept of scarcity in economics implies that the production of one good is limited by the availability of resources, which can be allocated to other goods. This is an example of a _______ opportunity \cost.

Answer Options

Correct Answer A. Opportunity \cost of production

B. Opportunity \cost of consumption

C. Opportunity \cost of distribution

D. Opportunity \cost of exchange

Correct Answer

Correct Option:

Opportunity \cost of production

About This Question

This is Post Utme Summit University 2022 Economics Question 6. It is one of the objective questions from the 2022 Post Utme Summit University Economics examination.

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