WAEC Economics 2025 Objective — Question 11
Question 11 of 51 from the West African Examinations Council (WAEC) Economics 2025 Objective paper, with the correct answer and a full explanation.
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The demand curve for a necessary good without any substitute is usually
- A. vertically sloped.Correct
- B. negatively sloped.
- C. horizontally sloped.
- D. positively sloped.
Explanation
A necessary good with no substitute has a perfectly inelastic (vertical) demand curve since quantity demanded barely changes with price.
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