The Theory Of Supply - Economics Jamb Past Questions and Answers

Question 21 :

• JAMB 1979

One of the reason why the condition of supply of a commodity may change is

A. A change in real income
B. Changes in the technique of production
C. A change of fashion or taste
D. Change in population

Question 22 :

• JAMB 1979

The quantity supplied of a commodity increases best when

A. Production increases
B. Demand increases
C. Price of the commodity increases
D. Population of the country increases
E. More commodities are imported

Question 23 :

• JAMB 1979

The quantity supplied of a commodity increases while

A. Production incraases
B. Demand increses
C. Price of the commodity increases
D. Population of the country increases
E. More commodites are imported

Question 24 :

• JAMB 1980

Which of the following is NOT a determinant of changes in supply?

A. Changes in the cost of production
B. Technical progress
C. Weather
D. Changes in the number of producers
E. Changes in the number buyers

Question 25 :

• JAMB 1981

Prohibiting the sale of lace materials in Nigeria would probably lead to?

A. Increase supply of lace material in Nigeria
B. Production of better quality lace abroad
C. Lower price of lace material in Nigeria
D. Higher price of lace material in Nigeria
E. Increase income to all dealers of lace materials in Nigeria