Supply curves - 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 2018

A supply curve slopes upwards from the left to the right indicating__________

A. A negative slope
B. A positive slope
C. A backward sloping supply curve
D. Short-run supply curve

Question 3:

• JAMB 2019

An upward movement along the same supply curve result in_____________

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

Question 4:

• JAMB 1983

In the diagram P₁ S is a supply curve for a manufactured. it is shows that

A. When price is OP₁ quantity supplied is infinitely elastic
B. The higher the price the greater the quantity supplied
C. The higher the price the lower the quantity supplied
D. When price is zero quantity supplied becomes infinite
E. When price is infinite quantity supplied becomes zero

Question 5:

• JAMB 2003

A normal supply curve is usually positively sloped because the relationship between

A. Price and supply is positive
B. Demand and price is positive
C. Supply and price is negative
D. Price and demand is negative