The Theory of Supply

Contents & notes: what this topic covers

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

• 6. The Theory of Supply a. i. Meaning and determinants of supply ii. Supply schedules and supply curves iii. the distinction between change in quantity supplied and change in supply b. Types of Supply: Joint/complementary, competitive and composite c. Elasticity of Supply: determinants, measurements, nature and applications

Study notes & guidance

Study The Theory of Supply 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 Supply, you should be able to:

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