JAMB - Economics (2023 - No. 66)
Which of the following shows why individual demand curve for a good usually slopes downward from left to right?
More of commodities are offered for sale at a lower than higher prices
Marginal utility falls as consumption increases
The higher the price, the higher the quantity offered for sale
Prices are usually falling when demand is low
Explanation
A normal demand curve slopes downward from left to right indicating at higher price, less quantity will be demanded and vice versa.
Comments (0)
