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An exceptional demand curve can result from

Economics
JAMB 2022

An exceptional demand curve can result from

  • A. increase in price of raw materials
  • B. increase in the size of the population
  • C. expectation of future price increase
  • D. change in taste of consumer
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Correct Answer: Option C
Explanation

Exceptional or Abnormal demand curve does not abide to the law of demand and it give reverse to the law of demand, which states that " At higher price, more quantity will be demanded and vice-versa" .Therefore, rise as a result of future expectation rise in price, war, consumer ignorance etc are the causes of abnornal demand curve.


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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Join your school's WhatsApp group
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789