The Theory of Demand - Jamb Economics Past Questions and Answers

Question 21:

• JAMB 2016

The overall demand for crude oil for various uses is an example of __________?

A. Derived demand
B. Competitive demand
C. Composite demand
D. Complementary demand

Question 22:

• JAMB 2015

When elasticity is zero, demand curve is

A. Perfectly elastic
B. Perfectly inelastic
C. Down-ward sloping
D. Upward sloping

Question 23:

• JAMB 2015

Which of the following will shift the demand curve for Bournvita to the right

A. A rise in price of Bournvita
B. An increase in income
C. A tax on cocoa producer
D. A fall in price of Bournvita

Question 24:

• JAMB 2015

The income elasticity of demand of normal goods is

A. Negative
B. Positive
C. Zero
D. Fixed

Question 25:

• JAMB 2014

A combination of factors responsible for a shift from DoDo to D1D1 are

A. Consumers income and change in technology
B. Price of the commodity and weather conditions
C. Consumers income and population size
D. Consumers taste and change in price