Post Utme Caleb University 2021 Economics Question 35

Practice objective / multiple choice question 35 from the 2021 Post Utme Caleb University Economics examination.

Post Utme Caleb University 2021 Economics Objective / Multiple Choice
Question 35 POST_UTME_CALEB_UNIVERSITY • 2021 • ECONOMICS • objective

The concept of demand and supply in economics implies that the price of a good is determined by the intersection of the demand and supply curves. Which of the following is a characteristic of a perfectly competitive market?

Answer Options

A. The demand curve is downward sloping and the supply curve is upward sloping.
B. The demand curve is upward sloping and the supply curve is downward sloping.
Correct Answer C. The demand curve is downward sloping and the supply curve is downward sloping.
D. The demand curve is upward sloping and the supply curve is upward sloping.
Correct Answer
C
Correct Option:
The demand curve is downward sloping and the supply curve is downward sloping.

About This Question

This is Post Utme Caleb University 2021 Economics Question 35. It is one of the objective questions from the 2021 Post Utme Caleb University Economics examination.

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