JAMB Economics 2021 Objective — Question 31

Question 31 of 40 from the Joint Admissions and Matriculation Board (JAMB) Economics 2021 Objective paper, with the correct answer and a full explanation.

31. If demand is greater than supply then the market is a. At equilibrium b. Balanced c. At disequilibrium d. Imbalance

A. At equilibrium
B. Balanced
C. At disequilibriumCorrect
D. Imbalance

Explanation

The market is at equilibrium only when demand equals supply. Any other position, including demand exceeding supply, is disequilibrium.

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