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Economics 2019 JAMB Past Questions

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1

A demand which gives rise to the reverse of the law of demand is__________

  • A. Derived demand
  • B. Joint demand
  • C. Abnormal demand
  • D. Composite demand
View Answer & Discuss (3) JAMB 2019
2

If two commodities are unrelated, a change in the price of one will____________

  • A. have effect on the quantity demanded of the other
  • B. have no effect on the quantity demanded of the other
  • C. increase the quantity demanded on the other
  • D. decrease the quantity demanded on the other
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3

 

Price
(₦)
Quantity Demanded
8 10
6 12


If we move from 8 to 6, the elasticity of demand is_______

  • A. -1.25
  • B. 0.62
  • C. 0.8
  • D. 1
View Answer & Discuss (6) JAMB 2019
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4

In a perfect competition, the market price is determined by_______

  • A. the government
  • B. the producer
  • C. the consumer
  • D. the market supply and demand junctions
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5

In the short-run, the monopoly makes_______

  • A. Normal profit
  • B. Abnormal Profit
  • C. Loss
  • D. Sales
View Answer & Discuss (3) JAMB 2019
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