Question 6 — MCQ - notebook or tennis racket - Questions at the end of the chapter - Chapter 8 - Building Blocks in Economics: The Problem of Choice

Last updated at September 18, 2026 by

A student has Rs 100 and must choose between buying a notebook or saving the money for buying a tennis racket later. Which economic concept best explains this situation?

  • a. Demand
  • b. Opportunity cost
  • c. Production
  • d. Inflation
Concept Choices and Limited Resources
Show Answer Hide Answer
  • The answer is b. Opportunity cost .
  • The student can pick only one, so the value of the option given up is the opportunity cost.
  • Demand is wrong, because demand is about how much of a good buyers want to buy.
  • Production is wrong, because nothing is being produced here.
  • Inflation is wrong, because inflation is about a general rise in prices.
Remove Ads
Teachoo · Class 9 Explore Class 9
CA Maninder Singh's photo - Co-founder, Teachoo

Made by

CA Maninder Singh

CA Maninder Singh is a Chartered Accountant with 16+ years of practical experience and 20+ years of teaching experience. At Teachoo, he simplifies Accounts, Tax and GST with step-by-step examples so students can apply concepts confidently in exams and real life.

For an uninterrupted learning experience, students can use Teachoo Black to remove ads and focus better.