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Economics 2013 JAMB Past Questions

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6
An advantage of the range as a measure of dispersion is that it
  • A. can be used to calculate open-ended distribution
  • B. make use of all values of observations in a distribution
  • C. takes all values into consideration
  • D. is useful for further statistical calculation
View Answer & Discuss (3) JAMB 2013
7

Find the median of the following set of data 35,10,14,38,15,18,22,30 and 28

  • A. 10
  • B. 38
  • C. 35
  • D. 22
View Answer & Discuss JAMB 2013
8

An increase in demand without a corresponding change in supply will lead to

  • A. a decrease in equilirium price and increase in equilibrium quantity
  • B. an increase in equilibrium price and quantity
  • C. a decrease in equilibrium price and quantity
  • D. an increase in equilibrium price and a decrease in equilibrium quantity
View Answer & Discuss (7) JAMB 2013
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9

An increase in the price of a commodity will result in

  • A. a decrease in the quantity demanded
  • B. an increase in demand
  • C. an increase in quantity demanded
  • D. a decrease in demand
View Answer & Discuss JAMB 2013
10

If the price of a bicycle changes from N120 to N80 and quantity bought changes from 300 to 500 units, the elasticity of demand for bicycle is

  • A. 66.7
  • B. 0.5
  • C. 1.5
  • D. 2.0
View Answer & Discuss (4) JAMB 2013
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