Post Utme Redeemers University 2024 Geography Question 20

Practice objective / multiple choice question 20 from the 2024 Post Utme Redeemers University Geography examination.

Post Utme Redeemers University 2024 Geography Objective / Multiple Choice
Question 20 POST_UTME_REDEEMERS_UNIVERSITY • 2024 • GEOGRAPHY • objective

The diagram below shows a graph of the relationship between the price of a commodity and its quantity demanded. What is the name of the phenomenon that occurs when the quantity demanded increases as the price decreases?

Answer Options

A. Law of supply
Correct Answer B. Law of demand
C. Giffen good
D. Income effect
Correct Answer
B
Correct Option:
Law of demand

About This Question

This is Post Utme Redeemers University 2024 Geography Question 20. It is one of the objective questions from the 2024 Post Utme Redeemers University Geography examination.

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