JAMB Economics · Demand, supply and prices
The theory of supply: JAMB Economics Past Questions and Answers
What the JAMB syllabus covers in The theory of supply
Our summary: What decides how much producers offer for sale, the types of supply and how to compute elasticity of supply.
- Meaning and determinants of supply
- Supply schedules and supply curves
- The distinction between change in quantity supplied and change in supply
- Types of supply (joint/complementary, competitive and composite.)
- Elasticity of supply (determinants, measurements, nature and applications.)
Objectives
- identify the factors determining supply;
- interpret supply curves from supply schedules;
- differentiate between change in quantity supplied and change in supply;
- compare the various types of supply and their interrelationships;
- relate the determinants to the nature of elasticity;
- compute elasticity coefficients;
- interpret the coefficients in relation to real life situations.
Syllabus content © The Joint Admissions and Matriculation Board (UTME).
JAMB Economics questions on The theory of supply
- JAMB 2023The law of supply states that, other things being constant, as price increases
- JAMB 2023If the supply curve of labour market is given as S = 4L + 8. What is L when s = 20?
- JAMB 2022Palm oil and palm kernel are in
- JAMB 2022In perfectly elastic supply, the supply curve
- JAMB 2022The supply curve of a locally-produced good may shift to the right if
- JAMB 2022A supply curve parallel to the X-axis indicates
- JAMB 2019When of the following matters may account for changes in supply? I - technological advances in an industry II - changes in labour costs III - changes in source…
- JAMB 2019A supply curve slopes upwards from the left to the right indicating …
- JAMB 2019Supply is …
- JAMB 2018An upward movement along the same supply curve result in …
- JAMB 2018The coefficient of the price elasticity of supply is always …
- JAMB 2016If price of yams decreases from N15.00 per tuber to N13.50 and the quantity supplied decreases by 20%. What is the elasticity of supply?
- JAMB 2016The price elasticity of supply of perishable goods is … ?
- JAMB 2016What effect would a change in price of a commodity have on its supply?
- JAMB 2016One of the factors that determine the supply of agricultural produce in Nigeria is
- JAMB 2015All the following are factors that would bring about a change in supply except
- JAMB 2015Given that the prices and quantities supplied in litres of petrol is expressed as Qs = 25 + 0.25P. Qs is the quantity supplied and P is the price. Determine the…
- JAMB 2015If the quantity supplied of a commodity increases from 20 to 30 units when there is an increase in price from N4 to N5, the elasticity of supply is
Years with The theory of supply questions in DeeepSolve's question bank
From the past questions DeeepSolve holds, not a count of everything the exam body has set.
- 2023
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- 2015