The Theory of Demand - Jamb Economics Past Questions and Answers

Question 101:

• JAMB 2001

In a demand curve, the relationship between price and quantity is?

A. Indeterminate
B. Direct
C. Nil
D. Inverse

Question 102:

• JAMB 2002

The demand for factors of production is an example of?

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

Question 103:

• JAMB 2002

One of the reason for an exceptional demand curve is the?

A. Expectation of a future change in price
B. Availability of credit facilities
C. Change in the price of the commodity
D. Availability of substitutes

Question 104:

• JAMB 2002

The effect of an increase in demand for a commodity accompanied by a decrease in supply will be to?

A. Raise the price of the commodity and affect the quantity in an indeterminate way
B. Decrease the equilibrium quantity and affect the price in an intermediate way
C. Raise its price as well as the equilibrium quantity
D. Lower it price while affecting the equilibrium quantity in an interminate way

Question 105:

• JAMB 2002

In the diagram above, what is the excess demand at the price of N60

A. 200
B. 300
C. 600
D. 100