JAMB Economics · Demand, supply and prices
The theory of consumer behaviour: JAMB Economics Past Questions and Answers
What the JAMB syllabus covers in The theory of consumer behaviour
Our summary: Utility, indifference curves and budget lines, and how a consumer reaches equilibrium.
- Basic concepts ((i) utility (cardinal, ordinal, total, average and marginal utilities); (ii) indifference curve and budget line.)
- Diminishing marginal utility and the law of demand
- Consumer equilibrium using the indifference curve and marginal analyses
- Effects of shift in the budget line and the indifference curve
- Consumer surplus and its applications
Objectives
- explain the various utility concepts;
- apply the law of demand using the marginal utility analysis;
- use indifference curve and marginal analyses to determine consumer equilibrium;
- relate the income and substitution effects;
- apply consumer surplus to real life situations.
Syllabus content © The Joint Admissions and Matriculation Board (UTME).
JAMB Economics questions on The theory of consumer behaviour
- JAMB 2024When combination of two goods which a consumer derive equal satisfaction is plotted on a graph, the graph is known as
- JAMB 2024The following determine the level of consumption EXCEPT
- JAMB 2024The satisfaction derived from the consumption of a commodity is referred to as
- JAMB 2024If the marginal utility of commodity is equal to its price, then
- JAMB 2023An increase in money income with constant price results in
- JAMB 2023The decision to consume more of one product under normal circumstances will apply
- JAMB 2023Which of the following shows why individual demand curve for a good usually slopes downward from left to right?
- JAMB 2022A consumer of a single commodity is in equilibrium when
- JAMB 2022If the marginal utility of commodity is equal to its price, then
- JAMB 2021Units of Quality Consumes Total Utility Marginal Utility 0 1 2 3 4 5 - 10 15 17 18 18 - 10 5 2 1 0 This table illustrates the law of …
- JAMB 2021By utility we mean …
- JAMB 2020Utility is the satisfaction derived from?
- JAMB 2019In the case of highly or close complementary goods, the indifference curve is …
- JAMB 2019One of these is not an assumption of the cardinalist theory of utility?
- JAMB 2018By utility we mean …
- JAMB 2018Utility is the satisfaction derived from …
- JAMB 2017The law of diminishing marginal utility states:
- JAMB 2017Changing the structure of a commodity in order to increase its utility is called?
- JAMB 2016In the theory of the consumer behavior, a consumer is said to maximize utility when
- JAMB 2016All pairs of quantities from which a consumer derives equal satisfaction can be plotted on … ?
- JAMB 2016Consumers allocate their resources based on the … ?
- JAMB 2015The ordinalist approach of utility postulated that utility can be
- JAMB 2015A line in commodity space which shows the constraints imposed by his budget, his money income and the price of goods purchased is
- JAMB 2015c c Units of quantity Total utility Marginal utility 0 - - 1 10 10 2 15 5 3 17 2 4 18 1 5 18 0 The table illustrate the law of
- JAMB 2015In a situation where Mux represent the marginal utility of product X while Px represent the price respectively. Utility can be maximized when
- JAMB 2015The combination of two commodities each yielding the same level of satisfaction to the consumer is
- JAMB 2015All the following are properties of an indifference curves except
Years with The theory of consumer behaviour questions in DeeepSolve's question bank
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