NABTEB Economics 2024 Objective — Question 9

Question 9 of 50 from the National Business and Technical Examinations Board (NABTEB) Economics 2024 Objective paper, with the correct answer and a full explanation.

If the quantity demanded of rice decreased from 150 bags to 100 bags, the percentage range in quantity demanded is

A. A. 30.0%
B. B. 33.3%Correct
C. C. 50.0%
D. D. 66.7%

Explanation

Percentage change in quantity demanded = (New Qty−Old Qty)/Old Qty × 100% = (100−150)/150 × 100% = 10/1 × 100/1 = 33.3%.

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