Question on: JAMB Economics - 1995
A student in Obu'pu Secondary School discovers that he simultaneously needs a pen, an exercise book, an eraser and a ruler, but that he can purchase only one of these items. What is the first thing he is expected to do?
A
Check how much he has
B
Find out which is the cheapest of the items
C
Draw up a scale of preference
D
Weigh the opportunity cost of each item against the other
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Correct Option: C
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