Distinction Between Change In Quantity Demanded And Change In Demand - Economics Jamb Past Questions and Answers

Question 21 :

• JAMB 1998

In the diagram above, D_oD_o is the original demand curve, S_oS_o is the original supply curve, D₁D₁ is the new demand curve. What is the new equilibrium quantity?

A. Q₁
B. Q₂
C. Q₃
D. Q₄

Question 22 :

• JAMB 2002

The effect of an increase in demand for a commodity accompanied by a decrease in supply will be to?

A. Raise the price of the commodity and affect the quantity in an indeterminate way
B. Decrease the equilibrium quantity and affect the price in an intermediate way
C. Raise its price as well as the equilibrium quantity
D. Lower it price while affecting the equilibrium quantity in an interminate way

Question 23 :

• JAMB 2003

The price of a good rises from N5 to N8 and the quantity demanded falls from 200 to 190 units Over this price range, the demand curve is

A. Perfectly inelastic
B. Fairly inelastic
C. Perfectly elastic
D. Fairly elastic

Question 24 :

• JAMB 2003

If there is an increase in demand without a corresponding increase in supply, there will be a

A. Rise in price
B. Shift in demand curve to the left
C. Fall in price
D. Shift in supply curve to the right

Question 25 :

• JAMB 2004

A change in demand for a normal good means

A. A shift in the demand curve
B. A change in the price changes
C. A movement along a given demand curve
D. A change in the price elasticity