JAMB Economics · Section 2

The Theory of Supply

Section B: Demand, Supply, Consumer Behaviour, and Price Determination

Content items
5content items
Objectives
5objectives
Section topics
4section topics

Syllabus content and objectives

Official JAMB Economics outline · Section B: Demand, Supply, Consumer Behaviour, and Price Determination

Content

Meaning and determinants of supply.

Objective

Identify the factors determining supply.

Content

Supply schedules and supply curves.

Objective

Interpret supply curves from supply schedules.

Content

Distinction between a change in quantity supplied and a change in supply.

Objective

Differentiate between a change in quantity supplied and a change in supply.

Content

Types of supply: joint or complementary supply, competitive supply, and composite supply.

Objective

Compare the various types of supply and their interrelationships.

Content

Elasticity of supply: determinants, measurement, nature, and applications.

Objective

Relate the determinants of supply to the nature of elasticity, calculate elasticity coefficients, and interpret the coefficients in relation to real-life situations.

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