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WAEC Economics 2013 Question 1

Question 1

Basic Concepts

The action of government to forgo road construction in order to provide more health facilities denotes

  1. A.sound economic decision.
  2. B.opportunity cost.
  3. C.practicable government policy.
  4. D.scale of preference.
Show the answer and explanation

Answer: B (opportunity cost.)

Explanation

The roads given up are the opportunity cost of the health facilities.