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Economics 2006 JAMB Past Questions

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11
An important determinant of price elasticity of demand is
  • A. the state of technology
  • B. the prices of other commodities
  • C. the ease of substitution
  • D. government policy
View Answer & Discuss JAMB 2006
12
The range of the data 14,13,15,18,20,35 and 13 is
  • A. 20
  • B. 22
  • C. 13
  • D. 18
View Answer & Discuss (3) JAMB 2006
13
If the marginal utility of good X exceeds that of good Y, this implies that
  • A. a rational consumer will buy less of X
  • B. consuming more of X will increase total utility
  • C. Y is an inferior good
  • D. X will be cheaper than Y
View Answer & Discuss JAMB 2006
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14
A commodity will be demanded only if
  • A. consumers income increases
  • B. it has no close substitutes
  • C. the price is low
  • D. it has utility
View Answer & Discuss JAMB 2006
15
Derived demand is normally used with reference to
  • A. superior goods
  • B. inferior goods
  • C. the cost of production
  • D. the factors of production
View Answer & Discuss (1) JAMB 2006
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