Supply Schedules Jamb Economics Past Questions
Question 1
An upward movement along the same supply curve result in_____________
- A. a decrease in price
- B. an increase in supply
- C. an increase in quantity supplied
- D. a decrease In quantity supplied
Question 2
Supply is________
- A. A stock
- B. A Flow
- C. Constant
- D. A table
Question 3
A supply curve slopes upwards from the left to the right indicating__________
- A. a negative slope
- B. a positive slope
- C. a backward sloping supply curve
- D. short-run supply curve
Question 4
Given the supply function P = 14\frac{1}{4}(Qs+10) when P = N10, what is Qs?
- A. 20
- B. 1.5
- C. 5.0
- D. 30
Question 5
The supply of cocoa is influenced by
- A. seasonal conditions
- B. the efficacy of fertilizer used
- C. the demand for beverages
- D. the availability of close substitutes
