Distinction Between Change In Quantity Supplied And Change In Supply Jamb Economics Past Questions
Question 1
When of the following matters may account for changes in supply?
I - technological advances in an industry
II - changes in labour costs
III - changes in source of supply
IV - changes in levels of taxation
- A. I, II
- B. I, III
- C. II, III, IV
- D. I, II, III, IV
Question 2
The overall demand for crude oil for various uses is an example of __________?
- A. derived demand
- B. competitive demand
- C. composite demand
- D. complementary demand
Question 3
All the following are factors that would bring about a change in supply except
- A. level of technology
- B. government policy
- C. Entry of new firms
- D. Price of the commodity
Question 4
One of the major factors that brings about changes in supply is
- A. market discrimination
- B. availability of storage facilities
- C. the cost of storage
- D. incentives granted to workers
Question 5
The quantity supplied of a commodity increases while
- A. production incraases
- B. demand increses
- C. price of the commodity increases
- D. population of the country increases
- E. more commodites are imported
