The Theory of Demand - Jamb Economics Past Questions and Answers

Question 106:

• JAMB 2003

When two variables are positively related, the graph of the relationship?

A. Is a downward-sloping curve
B. Has a negative intercept
C. Is a straight line
D. Is an upward-sloping curve

Question 107:

• JAMB 2003

The price of a good rises from N5 to N8 and the quantity demanded falls from 200 to 190 units Over this price range, the demand curve is

A. Perfectly inelastic
B. Fairly inelastic
C. Perfectly elastic
D. Fairly elastic

Question 108:

• JAMB 2003

If there is an increase in demand without a corresponding increase in supply, there will be a

A. Rise in price
B. Shift in demand curve to the left
C. Fall in price
D. Shift in supply curve to the right

Question 109:

• JAMB 2003

The demand for labour is an example of

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

Question 110:

• JAMB 2004

A change in demand for a normal good means

A. A shift in the demand curve
B. A change in the price changes
C. A movement along a given demand curve
D. A change in the price elasticity