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JAMB Economics 2005 Question 31

Question 31

Theory of Demand

An inverse relationship between price and quantity demanded implies that

  1. A.the two variables change in opposite directions
  2. B.the two variables change in the same direction
  3. C.only one variable changes
  4. D.the two variables remain unchanged
Show the answer and explanation

Answer: A (the two variables change in opposite directions)

Explanation

Inverse means when one rises the other falls, i.e. they move in opposite directions.