WAEC Economics 2016 Objective — Question 7
Question 7 of 50 from the West African Examinations Council (WAEC) Economics 2016 Objective paper, with the correct answer and a full explanation.
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7. The demand curve for a necessity is usually (a) vertical (b) backward bending (c) horizontal (d) negatively sloped
- A. verticalCorrect
- B. backward bending
- C. horizontal
- D. negatively sloped
Explanation
Demand curve for a necessity is unlike demand curve for a normal good. Since a necessity must be bought no matter what, thus, the demand is vertical.
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