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

Question 41:

• JAMB 1998

In the diagram above, D_oD_o is the original demand curve, S_oS_o is the original supply curve, D₁D₁ is the new demand curve. What is the new equilibrium quantity?

A. Q₁
B. Q₂
C. Q₃
D. Q₄

Question 42:

• JAMB 2001

In a demand curve, the relationship between price and quantity is?

A. Indeterminate
B. Direct
C. Nil
D. Inverse

Question 43:

• JAMB 2002

One of the reason for an exceptional demand curve is the?

A. Expectation of a future change in price
B. Availability of credit facilities
C. Change in the price of the commodity
D. Availability of substitutes

Question 44:

• JAMB 2002

The effect of an increase in demand for a commodity accompanied by a decrease in supply will be to?

A. Raise the price of the commodity and affect the quantity in an indeterminate way
B. Decrease the equilibrium quantity and affect the price in an intermediate way
C. Raise its price as well as the equilibrium quantity
D. Lower it price while affecting the equilibrium quantity in an interminate way

Question 45:

• JAMB 2003

When two variables are positively related, the graph of the relationship?

A. Is a downward-sloping curve
B. Has a negative intercept
C. Is a straight line
D. Is an upward-sloping curve