Syllabus content and objectives
Official JAMB Economics outline · Section B: Demand, Supply, Consumer Behaviour, and Price Determination
Content
Basic utility concepts: cardinal utility, ordinal utility, total utility, average utility, and marginal utility.
Objective
Explain the various utility concepts and apply the law of demand using marginal utility analysis.
Content
Indifference curves and budget lines.
Objective
Use indifference curve and marginal analyses to determine consumer equilibrium.
Content
Diminishing marginal utility and the law of demand.
Objective
Apply the law of demand using marginal utility analysis.
Content
Consumer equilibrium using indifference curve and marginal utility analyses.
Objective
Use indifference curve and marginal analyses to determine consumer equilibrium.
Content
Effects of shifts in the budget line and the indifference curve.
Objective
Relate income and substitution effects to changes in consumer behaviour.
Content
Consumer surplus and its applications.
Objective
Apply the concept of consumer surplus to real-life situations.
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