Question on: JAMB Economics - 2023
The decision to consume more of one product under normal circumstances will apply
A
less of another product will be consumed
B
more of another product will be consumed
C
less of the product will be consumed
D
no other products will be consumed
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Correct Option: A
The decision to consume more of one product under normal circumstances will typically imply that less of another product will be consumed. This reflects the concept of opportunity cost in economics. When individuals choose to allocate more resources (money, time, etc.) to one product or activity, they are doing so at the expense of other possible choices.
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