Economics
JAMB 2019
Effective demand for a commodity is desire for that commodity backed by_______
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A.
a wish for the lowest possible price
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B.
ability and willingness to pay
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C.
cash in one's pocket
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D.
a promise to make payment
Correct Answer: Option B
Explanation
Effective demand is the desire, backed by willingness and ability, to buy at a given price.
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