JAMB Economics 2009 Objective — Question 11
Question 11 of 50 from the Joint Admissions and Matriculation Board (JAMB) Economics 2009 Objective paper, with the correct answer and a full explanation.
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A supply curve is positively sloped because
- A. supply always exceeds demand
- B. demand always exceeds supply
- C. price is an incentive to consumers
- D. price is an incentive to producersCorrect
Explanation
Price is an incentive to a producer; higher price induces him to sell more.
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