Question on: WAEC Economics - 2016
The demand curve for neccessity is usually
A
vertical
B
backward bending
C
horizontal
D
negatively sloped
Ask EduPadi AI for a detailed answer
Correct Option: A
Necessity goods are products and services that consumers will buy regardless of the changes in their income levels, therefore making these products less sensitive to income change.
Add your answer
Please share this, thanks!
No responses