If income rises from N200.00 to N250.00 and the amount spent on good X falls...

Economics

JAMB 1982

If income rises from N200.00 to N250.00 and the amount spent on good X falls from N30.00 to N28.00, then good X is?

A. an income elastic good
B. a normal good
C. an inferior good
D. demand elastic
E. supply elastic

Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts

Your School's Whatsapp Group - Join Us now

Correct Answer: Option C

Explanation

No official explanation is available for this question at this time. Please check contributions posted by others below. If you can provide an explanation to help other student learn, please click here

Previous Next

Go back to Econs classroom

Report an Error Ask A Question Download App

WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now

Contributions ({{ comment_count }})

Please wait...

{{ settings.no_comment_msg ? settings.no_comment_msg : 'There are no comments' }}

Quick Questions

professor John is the leader of the ________ committee to review the new book? Answer this

1 Answers · English Language · 3 months ago
His contract was ---- because of irregularities in his contract You picked annulled over terminated and I want to know... Answer this

1 Answers · English Language · 2 months ago
whats is the difference between phrase and clause? Answer this

2 Answers · English Language · 3 days ago

WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now

If income rises from N200.00 to N250.00 and the amount spent on good X falls...

Correct Answer: Option C

Explanation

Contributions ({{ comment_count }})

Please wait...

Modal title

Report

Block User

{{ feedback_modal_data.title }}

Quick Questions

Post your Contribution

Sign In