Price elasticity of demand - Jamb Economics Past Questions and Answers

Question 1:

• JAMB 2019

A demand which gives rise to the reverse of the law of demand is__________

A. Derived demand
B. Joint demand
C. Abnormal demand
D. Composite demand

Question 2:

• JAMB 2019

Demanded
8	10
6	12

If we move from 8 to 6, the elasticity of demand is_______

A. -1.25
B. 0.62
C. 1.25
D. 1

Question 3:

• JAMB 2018

If the demand for a commodity is perfectly elastic, the incidence of a tax on that commodity will be, other things being equal, entirely on the_______

A. Buyer
B. Seller
C. Government
D. Local authority

Question 4:

• JAMB 2018

Price(₦)	Quantity Demanded
8	10
6	12

If we move from 8 to 6, the elasticity of demand is_______

A. -1.25
B. 0.62
C. 1.25
D. 1

Question 5:

• JAMB 2019

When elasticity is zero, the demand curve is_____________

A. Circular
B. Downward sloping
C. Perfectly inelastic
D. Concave