MTTC 103 ELEMENTARY EDUCATION SAMPLE MULTIPLE CHOICE QUESTIONS WITH CORRECT ANSWERS



Which of the following examples best

illustrates the operation of the concept

of opportunity cost in a market

economy?



A. A wage earner decides to spend a

salary bonus on garden tools rather

than on new clothing.



B. A store owner lowers prices to

attract a rival store's customers.



C. A business lays off a quarter of its

workforce when demand for

company products declines.



D. A consumer ...
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