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. Abnormal demandCorrect
B. Normal demand
C. Ostentation demand
D. carelessness

Explanation

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

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