JAMB and WAEC Economics questions

745 questions with answers and explanations. Tap an option to check yourself.

All JAMB WAEC

Question 721· Theory of supply· JAMB
Beef and hides are an example of goods in
Show answer
Answer: B. joint supply
Explanation and discussion
Question 722· Theory of supply· JAMB
Price rises from ₦50 to ₦60 and quantity supplied rises from 100 to 130 units. The price elasticity of supply is
Show answer
Answer: B. 1.5
Explanation and discussion
Question 723· Theory of supply· JAMB
Composite supply refers to
Show answer
Answer: C. a good that can be supplied from several sources
Explanation and discussion
Question 724· Theory of supply· JAMB
In the short run, the supply of agricultural produce is relatively inelastic because
Show answer
Answer: C. it takes time for crops to grow
Explanation and discussion
Question 725· Theory of supply· JAMB
Supply is perfectly inelastic when
Show answer
Answer: B. quantity supplied does not change whatever the price
Explanation and discussion
Question 726· Theory of supply· WAEC
When more cattle are slaughtered for beef, more hides become available. Beef and hides are in
Show answer
Answer: B. joint supply
Explanation and discussion
Question 727· Theory of supply· WAEC
Supply of agricultural products is often inelastic in the short run because
Show answer
Answer: A. it takes time to grow more crops
Explanation and discussion
Question 728· Theory of supply· WAEC
A movement along a supply curve is caused by a change in
Show answer
Answer: D. the price of the good itself
Explanation and discussion
Question 729· Theory of supply· JAMB
A farmer can use a plot of land for either maize or cassava. Maize and cassava are in
Show answer
Answer: B. competitive supply
Explanation and discussion
Question 730· Theory of supply· WAEC
An increase in the cost of raw materials will cause the supply curve of a product to
Show answer
Answer: B. shift to the left
Explanation and discussion
Question 731· Theory of supply· WAEC
An increase in the price of fertiliser will
Show answer
Answer: B. shift the supply curve of maize to the left
Explanation and discussion
Question 732· Theory of supply· JAMB
A rise in the price of a good leads to
Show answer
Answer: C. an extension of supply
Explanation and discussion
Question 733· Theory of supply· WAEC
Joint supply occurs when
Show answer
Answer: A. producing one good automatically produces another
Explanation and discussion
Question 734· Theory of supply· WAEC
A subsidy to producers will
Show answer
Answer: D. increase supply
Explanation and discussion
Question 735· Theory of supply· WAEC
Good weather that increases the harvest of tomatoes will
Show answer
Answer: D. shift the supply curve to the right
Explanation and discussion
Question 736· Theory of supply· WAEC
Supply of agricultural products is inelastic in the short run because
Show answer
Answer: B. production takes time
Explanation and discussion
Question 737· Theory of supply· JAMB
Which of the following will NOT shift the supply curve of maize?
Show answer
Answer: D. a change in the price of maize
Explanation and discussion
Question 738· Theory of supply· WAEC
An increase in the cost of production will cause the supply curve to
Show answer
Answer: D. shift to the left
Explanation and discussion
Question 739· Theory of supply· WAEC
The supply of fresh tomatoes is fairly inelastic in the short run because
Show answer
Answer: A. output cannot be increased quickly
Explanation and discussion
Question 740· Theory of supply· JAMB
An increase in the cost of production will shift the supply curve
Show answer
Answer: A. to the left
Explanation and discussion

Practise Economics like the real exam. A timed CBT, your score, and the topics to fix.

Start a Economics test

JAMB and WAEC Economics questions

Beef and hides are an example of goods in

Price rises from ₦50 to ₦60 and quantity supplied rises from 100 to 130 units. The price elasticity of supply is

Composite supply refers to

In the short run, the supply of agricultural produce is relatively inelastic because

Supply is perfectly inelastic when

When more cattle are slaughtered for beef, more hides become available. Beef and hides are in

Supply of agricultural products is often inelastic in the short run because

A movement along a supply curve is caused by a change in

A farmer can use a plot of land for either maize or cassava. Maize and cassava are in

An increase in the cost of raw materials will cause the supply curve of a product to

An increase in the price of fertiliser will

A rise in the price of a good leads to

Joint supply occurs when

A subsidy to producers will

Good weather that increases the harvest of tomatoes will

Supply of agricultural products is inelastic in the short run because

Which of the following will NOT shift the supply curve of maize?

An increase in the cost of production will cause the supply curve to

The supply of fresh tomatoes is fairly inelastic in the short run because

An increase in the cost of production will shift the supply curve