Question 0

'Choice arises because of scarcity of resources',In discussing this statement, Which of the following is NOT correct?

  • A.Human wants are numerous but the resources needed to satisfy them are limited
  • B.Given numerous wants and limited resources only individuals and businesss firms make choice
  • C.The process of making a choices involves opportunity cost
  • D.An economist is not interested morality or otherwise of any choice so made
  • E.Usually choice is made from a list of wants compliled in the context of a scale of preference
Objective

Question details

Exam body
JAMB
Subject
Economics
Year
1981
Question no.
#0
Type
Objective

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