Meaning and determinants of demand - Jamb Economics Past Questions and Answers

Question 16:

• JAMB 1979

when the demand curve shift to the right it indicate that a larger quantity is demanded at each price. This is caused by one of the following

A. A fall in income
B. A rise in the price of a complement
C. A fall in the price of substitute
D. A change in taste against this commodity
E. None of the above

Question 17:

• JAMB 1980

If the price of a commodity falls and the quantity purchased of it does not rise, the commodity can be described as

A. Normal
B. Abnormal
C. Inferior
D. Superior
E. Scarce

Question 18:

• JAMB 1980

When we draw a market demand curve, we?

A. Ignore tastes, incomes and other prices
B. Assumes that tastes, income and prices do not matter
C. Assumes that taste, income and all other prices change in same direction as prices
D. Assume that tastes, incomes and all other prices remain constant
E. Both A and B above

Question 19:

• JAMB 1980

In a normal (typical) demand schedule, the quantity demand is?

A. Directly related to price
B. Inversely related to price
C. Independent of price
D. Proportional related to supply
E. Solely dependent on haggling skill

Question 20:

• JAMB 1981

If the income of a consumer rises and his demand for good X falls, good X can be described as

A. A normal good
B. An adnoral good
C. A good with inelastic demand
D. A good with unitary elastic demand
E. None of the above