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A demand which is positively related to price is true of?

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Economics JAMB 1994

A demand which is positively related to price is true of?

  • normal goods checkmark
  • giffen goods
  • ostentatious goods
  • capital goods

The correct answer is: A

Explanation

In economics, normal goods are any goods for which demand increases when income increases, and falls when income decreases but price remains constant, i.e. with a positive income elasticity of demand.
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