WAEC Marketing 2023 Objective — Question 1
Question 1 of 40 from the West African Examinations Council (WAEC) Marketing 2023 Objective paper, with the correct answer and a full explanation.
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The need for an item backed by the ability to pay by a consumer is
- A. demandCorrect
- B. want
- C. exchange
- D. utility
Explanation
Demand is defined as the need for/coupled with the ability to pay for a product, unlike a mere 'want'.
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