Effects Of Shift In The Budget Line And The Indifference Curve Jamb Economics Past Questions
Question 1
The demand for two or more commodities to satisfy a particular want is _____?
- A. Derived
- B. Composite
- C. Competitive
- D. Joint
Question 2
A movement from K to M will
- A. decrease the consumer's utility
- B. increase the price of the commodity
- C. increase the consumer's utility
- D. leave consumer's utility unchanged
Question 3
From the graph above, R represents
- A. marginal cost
- B. total cost
- C. variable cost
- D. fixed cost
Question 4
A rightward shift of the budget line is caused by a
- A. fall in consumer income
- B. change in consumer taste
- C. fall in the commodity relative price
- D. rise in the consumer income
Question 5
Demand for a factor of production is?
- A. a composite demand
- B. a joint demand
- C. a derived demand
- D. an elastic demand
- E. cross-elasticity of demand
