The Theory of Demand

Contents & notes: what this topic covers

Under The Theory of Demand, the JAMB Economics syllabus expects you to study:

• 4. The Theory of Demand a. i. meaning and determinants of demand ii. demand schedules and curves iii. the distinction between change in quantity demanded and change in demand.
• b. Types of demand: Composite, derived, competitive and joint demand: c. Types, nature and determinants of elasticity and their measurement - price, income and cross elasticity of demand: d. Importance of elasticity of demand to consumers, producers and government.

Study notes & guidance

Study The Theory of Demand using a recommended Economics textbook that follows the JAMB syllabus. Work through the contents listed above one by one, make brief notes in your own words, and then practise as many questions on this topic as you can — in Economics, understanding and steady practice matter far more than memorising. Use the objectives below as a checklist: if you can do each one confidently, you have mastered this topic.

Objectives — candidates should be able to

After studying The Theory of Demand, you should be able to:

1. (i) identify the factors determining demand; (ii) interpret demand curves from demand schedules; (iii) differentiate between change in quantity demanded and change in demand; (iv) compare the various types of demand and their interrelationships; (v) relate the determinants to the nature of elasticity; (vi) compute elasticities; (vii) interpret elasticity coefficients in relation to real life situations.

These objectives are from the official JAMB syllabus. Use them as a checklist — if you can do each one confidently, you have mastered this topic.

Source: official JAMB UTME Economics syllabus (IBASS, jamb.gov.ng). Reproduced for study use. Last checked: 17 Sept 2026. Always confirm the current syllabus on the official portal.