The Distinction Between Change In Quantity Supplied And Change In Supply - Economics Jamb Past Questions and Answers

Question 16 :

• JAMB 1984

In the diagram, the supply curve So So shifts to a new position S₁ S₁ to indicate

A. A drop in supply
B. A rise in supply
C. A supply- push inflation
D. A stable supply curve
E. An increase in quantity supplied

Question 17 :

• JAMB 1987

In the diagram, above Ps is the supply curve for a particular commodity, while OP is the price which of the following statements is correct?

A. The quantity supplied is infinitely elastic
B. When price is zero, the quantity supplied infinite
C. When price is infinite, the quantity supplied zero
D. The quantity supplied is definite

Question 18 :

• JAMB 1995

Which of the following statement is TRUE of the effect of changes in demand and supply on price?

A. A decrease in supply will lead to fall in price and a fall in the quantity bought and sold
B. An increase in demand will lead to a fall in price and quantity bought and sold
C. A decrease in demand will lead to a rise in price and in the quantity bought and sold
D. An increase in supply will lead to a fall price and a rise in the quantity bought and sold

Question 19 :

• JAMB 1999

Use the diagram above to answer this question. Identity the three Important factors that can make S_o to become either S₁ or S₂

A. Technology, weather and population
B. Technology, price and tastes
C. Weather, price and technology
D. Population, weather and teastes

Question 20 :

• JAMB 2000

The supply of commodity II increasing from S ₁ S ₁ to S ₂ S ₂

A. Moves the price below OP ₂
B. Leads to a fall in price from OP ₁ to OP ₂
C. Increases the price from OP ₂ to OP ₁
D. Moves the price to OP ₁