Post Utme Bells University 2022 Economics Question 9

Practice objective / multiple choice question 9 from the 2022 Post Utme Bells University Economics examination.

Post Utme Bells University 2022 Economics Objective / Multiple Choice
Question 9 POST_UTME_BELLS_UNIVERSITY • 2022 • ECONOMICS • objective

The elasticity of demand is a measure of how responsive the quantity demanded of a good is to changes in its price. Which of the following is an example of a good with a high elasticity of demand?

Answer Options

A. A luxury good
B. A necessity good
Correct Answer C. A good with a high income elasticity of demand
D. A good with a low income elasticity of demand
Correct Answer
C
Correct Option:
A good with a high income elasticity of demand

About This Question

This is Post Utme Bells University 2022 Economics Question 9. It is one of the objective questions from the 2022 Post Utme Bells University Economics examination.

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