WAEC Economics 2015 Objective — Question 8

Question 8 of 50 from the West African Examinations Council (WAEC) Economics 2015 Objective paper, with the correct answer and a full explanation.

Which of the following is not a reason for abnormal demand?

A. Price of the commodityCorrect
B. Goods of ostentation
C. Giffen goods
D. Rare commodity

Explanation

Abnormal demand (where demand doesn't fall as price rises) arises due to goods of ostentation, Giffen goods, and rare/speculative commodities - the price of the commodity itself is the normal determinant of demand, not a special reason for abnormal demand.

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