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

Question 21:

• JAMB 1981

A movement along a given demand curve for a good is caused by a change in

A. A consumer income
B. The price of the good
C. Taste
D. The prices of other goods
E. Population

Question 22:

• JAMB 1982

The sloping downward of the demand curve implies that?

A. An increase in price leads to an increase in quantity demanded
B. An increase in price leaves the quantity demanded unchanged
C. A decrease in price leads to a decreased in quantity demanded
D. A decrease in price leads to an increase in quantity demanded
E. Supplies respond by offering less commodities for sale

Question 23:

• JAMB 1982

If income rises from N200.00 to N250.00 and the amount spent on good X falls from N30.00 to N28.00, then good X is?

A. An income elastic good
B. A normal good
C. An inferior good
D. Demand elastic
E. Supply elastic

Question 24:

• JAMB 1983

A downward sloping demand curve intersect a fixed supply curve, A shift of this demand curve to the right implies that?

A. Both price and quantity will increased
B. Only price increases
C. Only quantity increases
D. The price remains constant
E. The price falls

Question 25:

• JAMB 1983

A Nigerian household's demand curve for semovita is downward because?

A. The demand for semovita is high
B. The loal markets are flooded with semovita
C. It is produced in Nigeria
D. Every household can afford to buy semovita
E. Higher prices attract lower quantities while lower prices attract larger quantities