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

Question 36:

• JAMB 2004

When there is a change from T to N, it implies that

A. Supply has increased
B. Quantity supplied has increased
C. Quantity demanded has increased
D. Price has fallen

Question 37:

• JAMB 2005

An increase in the quantity supplied of commodity suggests

A. A leftward shift of the supply curve
B. A rightward shift of the supply curve
C. A movement along the supply curve
D. An increase in elasticity of supply

Question 38:

• JAMB 2005

The hoarding of goods is usually experienced when

A. Supply is greater than demand
B. The market price above the equilibrium price
C. Demand is greater than supply
D. Excess demand is greater than excess supply

Question 39:

• JAMB 2008

If 100 units and units of commodity X are supplied at N80 at different times, it means that there is

A. A change in supply
B. A change in the quantity supplied
C. An increase in the quantity supplied
D. A increase in the quantity supplied

Question 40:

• JAMB 2008

An upward movement along the same supply curve results in

A. An increase in supply
B. A decrease in price
C. A decrease in quantity supplied
D. An increase in quantity supplied