WAEC Economics 2024 Objective — Question 12
Question 12 of 50 from the West African Examinations Council (WAEC) Economics 2024 Objective paper, with the correct answer and a full explanation.
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12. If demand for postal services declines as a result of increased use of e-mails, then the two services are in
- A. composite demand.
- B. derived demand.
- C. competitive demand.Correct
- D. complementary demand.
Explanation
Since one service substitutes for the other, the demand relationship between them is referred to as competitive demand.
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