The Theory of Demand - Jamb Economics Past Questions and Answers

Question 11:

• 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 12:

• JAMB 2019

The effects on the demand for product A caused by a change in the price of product B is Called____________

A. Joint demand
B. Cross-elasticity of demand
C. Elasticity of supply
D. Competitive demand

Question 13:

• JAMB 2019

When elasticity is zero, the demand curve is_____________

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

Question 14:

• JAMB 2019

If the price of a ball point pen falls from N1.00 to No.60 and the quantity demanded increases. from 200 to 300, the point elasticity of demand is equal to____________

A. 0.50
B. 0.40
C. 1.25
D. 0.80

Question 15:

• JAMB 2019

If the price elasticity of demand for a good is 0.43 an increase in the price of the good will result in____________

A. A decrease in profit by 43%
B. An increase in profit by 43%
C. A net loss
D. A net gain