Post Utme Unilag 2021 Commerce Question 26

Practice objective / multiple choice question 26 from the 2021 Post Utme Unilag Commerce examination.

Post Utme Unilag 2021 Commerce Objective / Multiple Choice
Question 26 POST_UTME_UNILAG • 2021 • 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 compared to other countries. What is the opportunity cost of producing a good in a country?

Answer Options

Correct Answer A. The value of the good in terms of other goods that could be produced instead
B. The price of the good in the international market
C. The quantity of the good produced in the country
D. The quality of the good produced in the country
Correct Answer
A
Correct Option:
The value of the good in terms of other goods that could be produced instead

About This Question

This is Post Utme Unilag 2021 Commerce Question 26. It is one of the objective questions from the 2021 Post Utme Unilag Commerce examination.

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