Importance of elasticity of demand to consumers, producers and government - Jamb Economics Past Questions and Answers

Question 1:

• JAMB 2019

A demand which gives rise to the reverse of the law of demand is__________

A. Derived demand
B. Joint demand
C. Abnormal demand
D. Composite demand

Question 2:

• JAMB 2011

Demand patterns are determined by the market on the basis of

A. Scale of preference
B. Consumer sovereignty
C. Cosumer rationality
D. Price of the commodity