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

Question 31:

• JAMB 1987

A shift in the demand curve for commodity when the supply curve is vertical will lead to a change in the?

A. Price only
B. Quantity only
C. Quality only
D. Price and quantity

Question 32:

• JAMB 1987

Use the following information above to answer this question. X, Y and Z are the only three consumers of a commodity. Their respective demand schedules for the commodity are as given above. The market demand curve for the commodity cuts the quantity axis when quantity is

A. 75 units
B. 35 units
C. 7 units
D. Not determinable from the schedules except when graphed

Question 33:

• JAMB 1987

Use the following information above to answer this question. X, Y and Z are the only three consumers of a commodity. Their respective demand schedules for the commodity are as given above. What is market demand for the commodity when price is N5?

A. 65 units
B. 40 units
C. 30 units
D. 20 units

Question 34:

• JAMB 1988

One factor which influences the slope of a non-linear demand curve for a commodity is the?

A. Price of the commodity
B. Quantity of the commodity demanded
C. Availability of substitutes
D. Available of complements

Question 35:

• JAMB 1989

If the curve above shows the relationship between the price of commodity X and the quantity demanded of commodity Y then X and Y are

A. Complementary goods
B. Substitutes
C. Inferior goods
D. Luxury goods