Post Utme Wellspring University 2017 Commerce Question 6

Practice objective / multiple choice question 6 from the 2017 Post Utme Wellspring University Commerce examination.

Post Utme Wellspring University 2017 Commerce Objective / Multiple Choice
Question 6 POST_UTME_WELLSPRING_UNIVERSITY • 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. What is the opportunity cost of producing a good?

Answer Options

Correct Answer A. The value of the good in terms of other goods
B. The time it takes to produce the good
C. The cost of producing the good
D. The quantity of the good produced
Correct Answer
A
Correct Option:
The value of the good in terms of other goods

About This Question

This is Post Utme Wellspring University 2017 Commerce Question 6. It is one of the objective questions from the 2017 Post Utme Wellspring University Commerce examination.

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