Which of the following shows why individual demand curve for…

JAMB Economics 2023 58 views

Which of the following shows why individual demand curve for a good usually slopes downward from left to right?

  1. More of commodities are offered for sale at a lower than higher prices
  2. Prices are usually falling when demand is low
  3. Marginal utility falls as consumption increases ✓
  4. The higher the price, the higher the quantity offered for sale

Explanation

This answer correctly explains the economic concept. Economics studies how people make choices about limited resources.

The other options describe different economic ideas or situations. They don’t fit what this question asks.

Remember this economic principle when thinking about money, trade, and how markets work.

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