Effective demand for a commodity is desire for that commodity backed by_______ - SchoolNGR

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Effective demand for a commodity is desire for that commodity backed by_______

Effective demand for a commodity is desire for that commodity backed by_______

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Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE

A A wish for the lowest possible price
B Ability and willingness to pay
C Cash in one's pocket
D A promise to make payment

Correct Answer: Option B

Explanation:
Effective demand is the desire, backed by willingness and ability, to buy at a given price.

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