Distinction Between Change In Quantity Demanded And Change In Demand Jamb Economics Past Questions
Question 6
The demand curve for a luxury good is
- A. negatively sloped
- B. parallel to the price axis
- C. parallel to the quantity axis
- D. positively sloped
Question 7
A movement along the same demand curve is caused by the
- A. price of the product
- B. price of other products
- C. income of the consumer
- D. taste of the consumer
Question 8
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
Question 9
The demand curve for a normal good will shift to the left if?
- A. the incomes of consumers rise
- B. the price of the goods rises
- C. the price of complementary goods rises
- D. advertising expenditure on complementary goods increase
Question 10
If a demand curve that intersects a perfectly inelastic supply curve shifts rightward, then?
- A. the equilibrium price and quantity will increase
- B. only the price will increase
- C. only the quantity will increase
- D. the price will remain constant
