WAEC Economics 2013 Objective — Question 21
Question 21 of 50 from the West African Examinations Council (WAEC) Economics 2013 Objective paper, with the correct answer and a full explanation.
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Goods are said to be in competitive demand when they are
- A. substitutesCorrect
- B. complementary
- C. jointly demanded
- D. identical
Explanation
Substitute goods have competitive demand — one can be used in place of the other, so demand for one reduces the need to demand the other.
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