ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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movement along the demand curve
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a shift of the demand curve
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a change in price
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an increase in supply
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Detailed explanation-1: -A change in quantity demanded is represented as a movement along a demand curve. The proportion that quantity demanded changes relative to a change in price is known as the elasticity of demand and is related to the slope of the demand curve.
Detailed explanation-2: -(a) MEANING OF MOVEMENT ALONG THE DEMAND CURVE Keeping all other factors the same, when there is a change in demand of a commodity due to change in price, it is referred to as the change in quantity demanded. It is shown as a movement along the demand curve when expressed graphically.
Detailed explanation-3: -A change in the price of a good or service causes a movement along a specific demand curve, and it typically leads to some change in the quantity demanded, but it does not shift the demand curve. The graph on the left lists events that could lead to increased demand.
Detailed explanation-4: -A movement along the demand curve occurs when there is a change in price. This may occur because of a change in demand conditions. The factors affecting demand are assumed to be held constant. A change in price leads to a movement along the demand curve and it referred to as a change in quantity demanded.