Jamb Economics 2014 Past Questions and Answers

Question 1:

• JAMB 2014

Given that Qd = 40-2P and Qs = 6P+24. Calculate the equilibrium price.

A. 34
B. 32
C. 36
D. 16

Question 2:

• JAMB 2014

From the table above, find the values of E and F respectively

A. 27 and 1
B. 68 and 12
C. 28 and 5
D. 12 and 19

Question 3:

• JAMB 2014

From the table above, Calculate the price elasticity of supply

A. 0.50
B. 0.80
C. 2.00
D. 1.25

Question 4:

• JAMB 2014

From the graph above, the consumer will attain equilibrium at point

A. J
B. K
C. L
D. M

Question 5:

• JAMB 2014

The major determinant of the total volume of output in an economy is the

A. Level of total expenditure
B. Composition of consumer spending
C. Number of farmers
D. Size of the labour force