Jamb Economics Past Questions For Year 2003
Question 6
Use the production possibility curve of a country represented in the diagram above to this questions.An improvement in technology will enable the country to produce at
- A. V
- B. W
- C. X
- D. Z
Question 7
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
Question 8
If there is an increase in demand without a corresponding increase in supply, there will be a
- A. rise in price
- B. shift in demand curve to the left
- C. fall in price
- D. shift in supply curve to the right
Question 9
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 10
Utility is the satisfaction derived from?
- A. demand
- B. production
- C. distribution
- D. consumption
