Jamb Economics Past Questions and Answers

Question 1761:

• JAMB 2006

Derived demand is normally used with reference to

A. Superior goods
B. Inferior goods
C. The cost of production
D. The factors of production

Question 1762:

• JAMB 2006

A straight line indifference curve indicates that the two products are

A. Normal goods
B. Inferior goods
C. Perfect substitutes
D. Close substitutes

Question 1763:

• JAMB 2006

Given that demand and price remain unchanged an outward shift of the supply curve will lead to

A. Hoarding
B. Excess supply
C. Excess demand
D. A blank market

Question 1764:

• JAMB 2006

A distribution is said to be positively skewed if it

A. Has a long tail to the left
B. Has a long tail to the right
C. Is bimodal
D. Is bell-shaped

Question 1765:

• JAMB 2006

A decision on input combination solves the economic problem of

A. How to produce
B. For whom to produce
C. When to produce
D. What to produce