Post Utme Rsu 2020 Economics Question 11

Practice objective / multiple choice question 11 from the 2020 Post Utme Rsu Economics examination.

Post Utme Rsu 2020 Economics Objective / Multiple Choice
Question 11 POST_UTME_RSU • 2020 • ECONOMICS • objective

An increase in the price of a commodity leads to a decrease in its demand. This is an example of a:

Answer Options

A. Income effect
B. Substitution effect
C. Price elasticity of demand
Correct Answer D. Law of demand
Correct Answer
D
Correct Option:
Law of demand

About This Question

This is Post Utme Rsu 2020 Economics Question 11. It is one of the objective questions from the 2020 Post Utme Rsu Economics examination.

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