Effective demand for a commodity is desire for ... - JAMB Economics 2019 Question
Effective demand for a commodity is desire for that commodity backed by_______
A
a wish for the lowest possible price
B
ability and willingness to pay
C
cash in one's pocket
D
a promise to make payment
correct option: b
Effective demand is the desire, backed by willingness and ability, to buy at a given price.
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