The income elasticity of demand of normal goods is
...The income elasticity of demand of normal goods is
Negative
Positive
Zero
Fixed
Correct answer is B
A positive income elasticity of demand is associated with normal goods; an increase in income will lead to a rise in demand.
The Nigerian economy can be best described as a ...
All the under listed factors directly affects the supply of a commodity except ...
Money becomes a very poor store of value in a period of ...
Budget surplus implies that ...
Which of the following is associated with the development of petroleum industry in Nigeria? ...
In a perfect market, price and quantity to be bought are determined by the ...
Which of the following is NOT true of debentures and debenture holders ...