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Economics Past Questions and Answers

Jamb Economics Questions

Question 11:

The burden of a government tax on a commodity whose demand is inelastic will

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A Be borne only by the government
B Fall more heavily on consumers
C Be shared equally between consumers and producers
D Fall more heavily on producers

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Question 12:

An important determinant of price elasticity of demand is

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A The state of technology
B The prices of other commodities
C The ease of substitution
D Government policy

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Question 13:

The range of the data 14,13,15,18,20,35 and 13 is

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A 20
B 22
C 13
D 18

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Question 14:

If the marginal utility of good X exceeds that of good Y, this implies that

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A A rational consumer will buy less of X
B Consuming more of X will increase total utility
C Y is an inferior good
D X will be cheaper than Y

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Question 15:

A commodity will be demanded only if

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A Consumers income increases
B It has no close substitutes
C The price is low
D It has utility

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