Post Utme Ims U 2023 Economics Question 23

Practice objective / multiple choice question 23 from the 2023 Post Utme Ims U Economics examination.

Post Utme Ims U 2023 Economics Objective / Multiple Choice
Question 23 POST_UTME_IMS_U • 2023 • ECONOMICS • objective

The law of demand states that as the price of a good increases, the quantity demanded of that good decreases, ceteris paribus. Which of the following is a consequence of the law of demand?

Answer Options

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

About This Question

This is Post Utme Ims U 2023 Economics Question 23. It is one of the objective questions from the 2023 Post Utme Ims U Economics examination.

View More Post Utme Ims U 2023 Economics Questions More Post Utme Ims U Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support