Jamb Economics 2006 Past Questions and Answers

Question 11:

• JAMB 2006

The burden of a government tax on a commodity whose demand is inelastic will

A. Be borne only by the government
B. Fall more heavily on consumers
C. Be shared equally between consumers and producers
D. Fall more heavily on producers

Question 12:

• JAMB 2006

An important determinant of price elasticity of demand is

A. The state of technology
B. The prices of other commodities
C. The ease of substitution
D. Government policy

Question 13:

• JAMB 2006

The range of the data 14,13,15,18,20,35 and 13 is

A. 20
B. 22
C. 13
D. 18

Question 14:

• JAMB 2006

If the marginal utility of good X exceeds that of good Y, this implies that

A. A rational consumer will buy less of X
B. Consuming more of X will increase total utility
C. Y is an inferior good
D. X will be cheaper than Y

Question 15:

• JAMB 2006

A commodity will be demanded only if

A. Consumers income increases
B. It has no close substitutes
C. The price is low
D. It has utility