Post Utme Igbinedion University 2023 Geography Question 31

Practice objective / multiple choice question 31 from the 2023 Post Utme Igbinedion University Geography examination.

Post Utme Igbinedion University 2023 Geography Objective / Multiple Choice
Question 31 POST_UTME_IGBINEDION_UNIVERSITY • 2023 • GEOGRAPHY • objective
Post Utme Igbinedion University 2023 Geography Question 31 diagram

The diagram below shows a graph of the relationship between the price of a commodity and its quantity demanded. Which of the following statements is TRUE?

Answer Options

A. The demand curve is downward sloping.
B. The supply curve is upward sloping.
Correct Answer C. The equilibrium price is where the demand and supply curves intersect.
D. The quantity demanded is inversely proportional to the price.
Correct Answer
C
Correct Option:
The equilibrium price is where the demand and supply curves intersect.

About This Question

This is Post Utme Igbinedion University 2023 Geography Question 31. It is one of the objective questions from the 2023 Post Utme Igbinedion University Geography examination.

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