A change in quantity demanded can be described as:Multiple choice question.a movement along the demand curve that results from a change in the good's own price.a shift in the supply curve that results from a change in the good's own price.a movement along the supply curve that results from a change in the good's own price.a shift in the demand curve that results from a change in the good's own price.
Question
A change in quantity demanded can be described as:Multiple choice question.a movement along the demand curve that results from a change in the good's own price.a shift in the supply curve that results from a change in the good's own price.a movement along the supply curve that results from a change in the good's own price.a shift in the demand curve that results from a change in the good's own price.
Solution
The correct answer is: a movement along the demand curve that results from a change in the good's own price.
This is because a change in quantity demanded refers to a movement along the demand curve, which is caused by a change in the price of the good itself. This movement can be either upwards or downwards. For example, if the price of a good decreases, the quantity demanded of that good increases, resulting in a movement down the demand curve. Conversely, if the price of a good increases, the quantity demanded of that good decreases, resulting in a movement up the demand curve.
The other options refer to shifts in the demand or supply curves, which are caused by factors other than the price of the good itself, such as changes in income, tastes and preferences, prices of related goods, etc.
Similar Questions
A change in demand is said to take place when there is a A. shift of the demand curve. B. shift of the supply curve. C. price change. D. movement along the demand curve. E. quantity change.
A market experiencing a supply shift will see its equilibriumMultiple choice question.price change, but its quantity be unchanged.price and quantity both change.quantity change, but its price be unchanged.
the effect of changes in price on quantity demanded, i.e. movement along the curve
On a supply and demand graph, price will change when:A.there's a change in quantity demanded and a change in quantity supplied.B.either a change in quantity demanded or quantity supplied occurs.C.the quantity produced changes.D.the quantity purchased changes.E.either a change in demand or a change in supply occur.
Which type of movement would lead to an increase in quantity and an increase in price?A.Quantity demanded increaseB.Supply decreaseC.Demand decreaseD.No changeE.Quantity supplied increase
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