Jamb Economics Past Questions and Answers

Question 136:

• JAMB 2019

An upward movement along the same supply curve result in_____________

A. A decrease in price
B. An increase
C. An increase in quantity supplied
D. A decrease In quantity supplied

Question 137:

• JAMB 2019

The coefficient of the price elasticity of supply is always_____________

A. Constant
B. Zero
C. Positive
D. Negative

Question 138:

• JAMB 2019

In the history of economics the concept of division of labour is usually associated With______________-

A. Karl Marx
B. Adam Smith
C. David Ricardo
D. J.M Keynes

Question 139:

• JAMB 2019

Given that Y = C + 1, where C = 50 + 0.75 and 1 = N45m, what is the equilibrium level of income?

A. N20m
B. N380m
C. N200m
D. N180m

Question 140:

• JAMB 2019

From the diagram shown, the optional point of production is_____________?

A. R
B. T
C. S
D. U