Post Utme Unilorin 2022 Commerce Question 29

Practice objective / multiple choice question 29 from the 2022 Post Utme Unilorin Commerce examination.

Post Utme Unilorin 2022 Commerce Objective / Multiple Choice
Question 29 POST_UTME_UNILORIN • 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 the next best alternative
B. The quantity of the next best alternative
C. The price of the next best alternative
D. The quality of the next best alternative
Correct Answer
A
Correct Option:
The value of the next best alternative

About This Question

This is Post Utme Unilorin 2022 Commerce Question 29. It is one of the objective questions from the 2022 Post Utme Unilorin Commerce examination.

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