WAEC Economics 2014 Objective — Question 18
Question 18 of 50 from the West African Examinations Council (WAEC) Economics 2014 Objective paper, with the correct answer and a full explanation.
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Goods consumed out of habit have
- A. elastic demand
- B. perfectly elastic demand
- C. inelastic demandCorrect
- D. unitary elastic demand
Explanation
When it has become a habit to consume a commodity, demand for such a commodity is usually inelastic.
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