Neco 2023 Economics Question 2

Practice objective / multiple choice question 2 from the 2023 Neco Economics examination.

Neco 2023 Economics Objective / Multiple Choice Easy Difficulty
Question 2 NECO • 2023 • ECONOMICS • objective

The following data show the quantity demanded of a good at two different income levels: Income (naira) | Quantity demanded (units) \(100{,}000\) | 200 \(150{,}000\) | 150 Based on this information, what type of good is it? Justify your answer.

Answer Options

A. Luxury good
B. Necessity good
C. Normal good
Correct Answer D. Inferior good
Correct Answer
D
Correct Option:
Inferior good

About This Question

This is Neco 2023 Economics Question 2. It is one of the objective questions from the 2023 Neco Economics examination.

Difficulty level: Easy .

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