JAMB - Economics (1995 - No. 2)
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?
Check how much he has
Find out which is the cheapest of the items
Draw up a scale of preference
Weigh the opportunity cost of each item against the other