The demand curve for goods of ostentation is usually

Assessment: WAEC SSCE - Economics - 2022 (Objective) Subject: Economics

Question 1 Report

The demand curve for goods of ostentation is usually
Answer Details
The demand curve for goods of ostentation is usually positively sloped. This is because goods of ostentation are luxury goods, which are generally not necessities and have higher income elasticities of demand. As income increases, consumers are willing to spend more on these goods, leading to an increase in demand. Therefore, the demand curve for goods of ostentation slopes upwards from left to right.
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