JAMB Economics 2023 Objective — Question 38

Question 38 of 40 from the Joint Admissions and Matriculation Board (JAMB) Economics 2023 Objective paper, with the correct answer and a full explanation.

An anticipated increase in price will lead to

A. (A) Abnormal demandCorrect
B. (B) Normal demand
C. (C) Ostentation demand
D. (D) carelessness

Explanation

When consumers anticipate a future price increase, they tend to buy more now, a pattern known as abnormal demand.

Sign up free to unlock

Score tracking
Practice history
Saved questions
Progress dashboard
Personalized sessions
Weak-topic breakdown

…and/or go further with premium services and No Ads.

Create free account

More questions from Economics 2023 Objective More Economics past papers