WAEC Economics 2014 Objective — Question 8
Question 8 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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A normal supply curve has a positive slope which indicates that
- A. sellers are willing to sell more at a lower price
- B. sellers are indifferent to price
- C. sellers are willing to sell more at a higher priceCorrect
- D. there is always a fixed supply
Explanation
A normal supply curve slopes upward, and this shows that more is offered for sale at higher prices.
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