Distinction Between Change In Quantity Demanded And Change In Demand Jamb Economics Past Questions
Question 1
A combination of factors responsible for a shift from DoDo to D1D1 are
- A. consumers income and change in technology
- B. price of the commodity and weather conditions
- C. consumers income and population size
- D. consumers taste and change in price
Question 2
The line Y in the diagram represents
- A. total cost
- B. variable cost
- C. fixed cost
- D. marginal cost
Question 3
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
Question 4
If the quantity of rice bought decreases from 250 tonnes to 200 tonnes owing to a 2% rise in price, it shows that there is a change in
- A. consumers' income
- B. demand
- C. consumers' tastes
- D. quantity damanded
Question 5
The only factor of production that plays an active role in the production process is
- A. land
- B. capital
- C. entrepreneur
- D. labour
