Demand and Supply
ADS
A 70
B 74
C 76
D 86
The movement along the same curve is a
A change in demand
B change in quantity demanded
C shift in demand
D market demand
The income elasticity of a normal goods is
A positive
B negative
C zero
D fixed
The demand for a commodity that serves two or more purposes is
A competitive demand
B complemetary demand
C composite demand
D derived demand
A tax on a commodity whose demand is perfectly inelastic will fall heavily on the
A consumer
B manufacturer
C wholesaler
D retailer
Which of the following will occur when the market is unstable?
A Price will fluctuate
B Demand will remain static
C Unemployment will surely fall
D Price will remain static
Consumer buy more of a commodity at a lower price than at a higher price because
A productions like to produce more
B in a given situation people like to buy more
C consumers like to show off
D with the same amount of money they will be able to buy more
The demand for a commodity not directly for immediate consumption but for the production of another commodity is
A competitive demand
B derived demand
C composite demand
D joint demand
Which of the following is a luxury item?
A Petrol
B Textbook
C Pencil
D Gold
If the quantity demanded of a particular commodity is represented by the function Qd = 30 - 2p, what is the quantity demanded at a price of twelve Naira?
A 6 units
B 8 units
C 10 units
D 12 units
The responsiveness of demand to a change in income is the measurement of
A foreign exchange rate
B cross elasticity of demand
C income elasticity of demand
D price index elasticity
The upward slope of the supply curve indicates that
A more will be supplied as price rises
B less will be supplied as price rises
C supply is not a function of price
D supply is static and demand is dynamic
A greater burden of tax on a product with high price elasticity of demand rests mainly on the
A producer
B teacher
C civil servant
D middlemen
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