Post Utme Uniben 2025 Economics Question 26

Practice objective / multiple choice question 26 from the 2025 Post Utme Uniben Economics examination.

Post Utme Uniben 2025 Economics Objective / Multiple Choice
Question 26 POST_UTME_UNIBEN • 2025 • ECONOMICS • objective

The concept of scarcity in economics implies that the production of one good is limited by the availability of resources that could be used to produce other goods. Which of the following is a correct statement about the opportunity \cost of producing a good?

Answer Options

Correct Answer A. The opportunity \cost is the value of the next best alternative good that could have been produced with the same resources.
B. The opportunity \cost is the value of the good that is given up when producing another good.
C. The opportunity \cost is the value of the good that is produced when another good is not produced.
D. The opportunity \cost is the value of the good that is not produced when another good is produced.
Correct Answer
A
Correct Option:
The opportunity \cost is the value of the next best alternative good that could have been produced with the same resources.

About This Question

This is Post Utme Uniben 2025 Economics Question 26. It is one of the objective questions from the 2025 Post Utme Uniben Economics examination.

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