Post Utme Uniport 2023 Economics Question 28

Practice objective / multiple choice question 28 from the 2023 Post Utme Uniport Economics examination.

Post Utme Uniport 2023 Economics Objective / Multiple Choice
Question 28 POST_UTME_UNIPORT • 2023 • 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 another good. Which of the following is a correct example of scarcity?

Answer Options

A. A farmer has 100 hectares of land to plant either wheat or maize.
Correct Answer B. A country has a fixed amount of money to sp\end on either education or healthcare.
C. A company has a large supply of raw materials to produce either cars or airplanes.
D. A person has a lot of time to sp\end on either work or leisure.
Correct Answer
B
Correct Option:
A country has a fixed amount of money to sp\end on either education or healthcare.

About This Question

This is Post Utme Uniport 2023 Economics Question 28. It is one of the objective questions from the 2023 Post Utme Uniport Economics examination.

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