Scale of preference - 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 2019

The need to construct a scale of preference is necessitated by____________

A. Scarcity and the need for choice
B. The needs to satisfy wants
C. Non - availability of factors of production
D. Scarcity of resources

Question 3:

• JAMB 2015

The information that rank a consumer preferences is given by

A. Scale of preference
B. Indifference map
C. Demand schedule
D. Supply schedule

Question 4:

• JAMB 1985

The meaning of scale of preference is?

A. Preparing a list of goods and services to be purchased in order of priority
B. Showing the monthly income
C. Budget preparation without due regard to proper proirities
D. Consumers' preference for luxury goods
E. Consumers preference for foreugn goods

Question 5:

• JAMB 1989

The need to construct a scale of preference is necessitated by?

A. The need to satisfy wants
B. Scarcity and the need for choice
C. Scarcity of resources
D. Non-availability of factors of production