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Economics 2003 JAMB Past Questions

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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1
When two variables are positively related, the graph of the relationship?
  • A. is a downward-sloping curve
  • B. has a negative intercept
  • C. is a straight line
  • D. is an upward-sloping curve
View Answer & Discuss (1) JAMB 2003
2
For an inferior good, a decreased in real income will lead to?
  • A. a lower equilibrium price
  • B. a change in quantity demanded
  • C. an outward shift of the demand curve
  • D. an inward shift of the demand curve
View Answer & Discuss (4) JAMB 2003
3
In economic analysis, a statement is said to be normative if it?
  • A. relates to value judgement
  • B. is incorrect
  • C. can be tested scientifically
  • D. is contradictory
View Answer & Discuss JAMB 2003
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4
Utility is the satisfaction derived from?
  • A. demand
  • B. production
  • C. distribution
  • D. consumption
View Answer & Discuss (3) JAMB 2003
5
The price of a good rises from N5 to N8 and the quantity demanded falls from 200 to 190 units Over this price range, the demand curve is
  • A. perfectly inelastic
  • B. fairly inelastic
  • C. perfectly elastic
  • D. fairly elastic
View Answer & Discuss (1) JAMB 2003
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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