Post Utme Nile University 2017 Economics Question 28

Practice objective / multiple choice question 28 from the 2017 Post Utme Nile University Economics examination.

Post Utme Nile University 2017 Economics Objective / Multiple Choice
Question 28 POST_UTME_NILE_UNIVERSITY • 2017 • ECONOMICS • objective

The demand for a good is said to be elastic if a small change in price leads to a large change in quantity demanded. Which of the following is a correct example of an elastic demand?

Answer Options

A. The demand for hou\sing
Correct Answer B. The demand for a luxury good
C. The demand for a necessity good
D. The demand for a service
Correct Answer
B
Correct Option:
The demand for a luxury good

About This Question

This is Post Utme Nile University 2017 Economics Question 28. It is one of the objective questions from the 2017 Post Utme Nile University Economics examination.

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