JAMB Economics · Demand, supply and prices
The theory of demand: JAMB Economics Past Questions and Answers
What the JAMB syllabus covers in The theory of demand
Our summary: What decides how much people want to buy, the types of demand and how to compute and use elasticity of demand.
- Meaning and determinants of demand
- Demand schedules and curves
- The distinction between change in quantity demanded and change in demand
- Types of demand (composite, derived, competitive and joint demand.)
- Types, nature and determinants of elasticity and their measurement (price, income and cross elasticity of demand.)
- Importance of elasticity of demand to consumers, producers and government
Objectives
- identify the factors determining demand;
- interpret demand curves from demand schedules;
- differentiate between change in quantity demanded and change in demand;
- compare the various types of demand and their interrelationships;
- relate the determinants to the nature of elasticity;
- compute elasticities;
- interpret elasticity coefficients in relation to real life situations.
Syllabus content © The Joint Admissions and Matriculation Board (UTME).
JAMB Economics questions on The theory of demand
- JAMB 2024Which of the following is NOT a factor that brings about changes in demand?
- JAMB 2024When an increase in the price of a commodity lead to a fall In the demand for another, the demand for the two commodities are said to be
- JAMB 2024The demand for factors of production is said to be
- JAMB 2024The willingness of an individual backed up with purchasing power at a given time is
- JAMB 2024In the equation Q = a - bp + e; Q and P are … Variables respectively.
- JAMB 2024If the price of commodity X rises and consumers shift to commodity Y, then commodities X and Y are
- JAMB 2024A downward sloping demand curve means that
- JAMB 2024If the prices of a commodity increases from N8.00 to N10.00 and the demand decreases from 100 to 80 respectively, wha is the price elasticity of demand for the…
- JAMB 2024An exceptional demand curve can result from
- JAMB 2023The demand for a good is price inelastic if
- JAMB 2023The type of price elasticity of demand for a commodity whose quantity demanded remain unchanged despite changes in the price is
- JAMB 2023If demand function for a product is Qd = 30 - 4P, and the price and quantity of products is 4 and 14 respectively. What is the price elasticity of demand for…
- JAMB 2023When a kilogram of carrot is 8.00, 20 kilograms are demanded and when the price decreased to 6.000 per kilogram, 30 kilograms are demanded. The elasticity of…
- JAMB 2023The quantity of commodity a consumer is willing and able to buy at a particular time is called
- JAMB 2023If commodities X and Y are substitute, their cross elasticity of demand will be
- JAMB 2023Which of the following shows why individual demand curve for a good usually slopes downward from left to right?
- JAMB 2022An exceptional demand curve can result from
- JAMB 2022If the quantity demanded of a commodity increases from 20 units to 30 units when there is an increase in price from 4.00 to 5.00, the elasticity of demand is
- JAMB 2022The increase in the demand for a commodity may lead to a decrease in the demand for another if both are
- JAMB 2022In order to increase revenue, government should tax commodities for which demand is
- JAMB 2022A downward sloping demand curve means that
- JAMB 2022The demand curve for goods of ostentation is usually
- JAMB 2022If the price of commodity X rises and consumers shift to commodity Y, then commodities X and Y are
- JAMB 2021If the quantity demanded of a commodity increases from 20 to 30 when there is an increase in price from N4 to N5, the elasticity of deman is …
- JAMB 2021If the price of a commodity falls and the quantity purchased does not rise, the commodity can be described as …
- JAMB 2020In order to raise more revenue for a certain period, the government should impose higher taxes on goods whose demand
- JAMB 2019Price (₦) Quantity Demanded 8 10 6 12 If we move from 8 to 6, the elasticity of demand is …
- JAMB 2019The demand for labour is a …
- JAMB 2019If the demand for a commodity is perfectly elastic, the incidence of a tax on that commodity will be, other things being equal, entirely on the …
- JAMB 2019Let the quantity demanded in units of a particular commodity be represented as Qd = 80 - 2P, find the quantity demanded when P = ₦3.
- JAMB 2019A commodity is defined as normal when its demand changes in the same direction as …
- JAMB 2019A demand which gives rise to the reverse of the law of demand is …
- JAMB 2019Effective demand for a commodity is desire for that commodity backed by …
- JAMB 2019If two commodities are unrelated, a change in the price of one will …
- JAMB 2018When elasticity is zero, the demand curve is …
- JAMB 2018If the price elasticity of demand for a good is 0.43 an increase in the price of the good will result in …
- JAMB 2018If the price of a ball point pen falls from N1.00 to N0.60 and the quantity demanded increases. from 200 to 300, the point elasticity of demand is equal to …
- JAMB 2018A major determinant of the demand for a luxury good is … ?
- JAMB 2018The effects on the demand for product A caused by a change in the price of product B is Called …
- JAMB 2016Which of the following is a major determinant of price elasticity of demand?
- JAMB 2016The overall demand for crude oil for various uses is an example of … ?
- JAMB 2016The demand for two or more commodities to satisfy a particular want is … ?
- JAMB 2016One of the factors affecting change in demand for a commodity is the … ?
- JAMB 2015The income elasticity of demand of normal goods is
- JAMB 2015Which of the following will shift the demand curve for Bournvita to the right
- JAMB 2015When elasticity is zero, demand curve is
Years with The theory of demand questions in DeeepSolve's question bank
From the past questions DeeepSolve holds, not a count of everything the exam body has set.
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