Post Utme Ui 2017 Commerce Question 16

Practice objective / multiple choice question 16 from the 2017 Post Utme Ui Commerce examination.

Post Utme Ui 2017 Commerce Objective / Multiple Choice
Question 16 POST_UTME_UI • 2017 • 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 the next best alternative good or service that could have been produced with the same resources
B. The quantity of the next best alternative good or service that could have been produced with the same resources
C. The price of the next best alternative good or service that could have been produced with the same resources
D. The quality of the next best alternative good or service that could have been produced with the same resources
Correct Answer
A
Correct Option:
The value of the next best alternative good or service that could have been produced with the same resources

About This Question

This is Post Utme Ui 2017 Commerce Question 16. It is one of the objective questions from the 2017 Post Utme Ui Commerce examination.

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