ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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at various points on the demand curve
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with a new demand curve drawn above or below the original demand curve
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with a vertical line
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None of the above
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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: -Demand is represented by entire demand curve; quantity demanded is represented by a single point on the demand curve that correlates with one price and one quantity.
Detailed explanation-3: -In economics, “demand” refers to the entire curve that illustrates the relationship between price and quantity. “Quantity demanded” refers to a specific point on that curve, where a certain price is associated with a certain quantity.
Detailed explanation-4: -The demand curve will move downward from the left to the right, which expresses the law of demand-as the price of a given commodity increases, the quantity demanded decreases, all else being equal.