Neco 2025 Economics Question 46

Practice objective / multiple choice question 46 from the 2025 Neco Economics examination.

Neco 2025 Economics Objective / Multiple Choice Easy Difficulty
Question 46 NECO • 2025 • ECONOMICS • objective

According to the law of demand and the law of supply, when the market price \(P\) of wheat rises, what is the direction of change in (i) the quantity demanded and (ii) the quantity supplied? State each as "increase" or "decrease".

Answer Options

A. Quantity demanded increases; quantity supplied increases.
B. Quantity demanded decreases; quantity supplied decreases.
Correct Answer C. Quantity demanded decreases; quantity supplied increases.
D. Quantity demanded increases; quantity supplied decreases.
Correct Answer
C
Correct Option:
Quantity demanded decreases; quantity supplied increases.

About This Question

This is Neco 2025 Economics Question 46. It is one of the objective questions from the 2025 Neco Economics examination.

Difficulty level: Easy .

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