The Theory of Demand - Jamb Economics Past Questions and Answers

Question 121:

• JAMB 2008

If the demand elasticity coefficient of cars is 0.5, it implies that the demand for petrol is

A. Elastic
B. Perfectliy inelastic
C. Inelastic
D. Perfect elastic

Question 122:

• JAMB 2009

A movement along the same demand curve is caused by the

A. Price of the product
B. Price of other products
C. Income of the consumer
D. Taste of the consumer

Question 123:

• JAMB 2009

The demand curve for a luxury goods is

A. Negatively sloped
B. Parallel to the price axis
C. Parallel to the quantity axis
D. Positively sloped

Question 124:

• JAMB 2011

Demand patterns are determined by the market on the basis of

A. Scale of preference
B. Consumer sovereignty
C. Cosumer rationality
D. Price of the commodity

Question 125:

• JAMB 2011

If the demand for one commodity excludes another, it is said to be

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