JAMB Economics 2009 Objective — Question 1

Question 1 of 50 from the Joint Admissions and Matriculation Board (JAMB) Economics 2009 Objective paper, with the correct answer and a full explanation.

Musa has a choice of buying a shirt, a book and a bag. What is the opportunity cost of buying a book?

A. a bag only
B. a book and a bag
C. a shirt and a bagCorrect
D. a shirt only

Explanation

If he bought only the book, the ones left unbought because of insufficient fund is the opportunity cost. If the scale of preference was given, it will be the next on the scale of preference after the book has been bought.

Sign up free to unlock

Score tracking
Practice history
Saved questions
Progress dashboard
Personalized sessions
Weak-topic breakdown

…and/or go further with premium services and No Ads.

Create free account

More questions from Economics 2009 Objective More Economics past papers