Basic Concepts of Theory of Consumer Behaviour - Jamb Economics Past Questions and Answers

Question 21:

• JAMB 1985

At every point on a indifference curve, the

A. Total utility is decreasing
B. Prices of all goods are constant
C. Consumer is satiated
D. Level of utility is constant
E. Level of utility is increasing

Question 22:

• JAMB 1986

Under normal circumstances the concept of consumers sovereignty implies that

A. The consumer and not the producer owns the means of production
B. The producer and not the consumer determines what is to be produced
C. The consumer and not the producer determines what is to be produced
D. Both the consumer and the producer determines what should be produced

Question 23:

• JAMB 1989

The marginal theory of distribution makes an assertion that the price of any factor depends upon its marginal?

A. Utility
B. Productivity
C. Rate of substitution
D. Revenue

Question 24:

• JAMB 1990

The law of diminishing marginal utility indicates that if a consumer increases his consumption of a commodity continuously, his?

A. Total utility must fall
B. Marginal utility must fall
C. Marginal utility may rise even though his total utility is falling
D. Marginal utility may fall even though his total utility may be rising

Question 25:

• JAMB 1994

If the economy of the country is operating at X, the implication is that

A. The productive capacity is being fully utilized
B. The productive capacity is not being fully utilized
C. Too little of consumer goods is being produced
D. There is a disequilibrium between the production of capital and consumer goods