ECONOMICS
DEMAND
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
shift up and to the right
|
|
|
shift down and to the left
|
|
|
it will not change
|
|
|
None of the above
|
Detailed explanation-1: -Therefore, the rise in the price of iPhones reduces the demand of iPhones and eventually, iPhone cases. In other words, the demand curve of iPhone cases shifts to left due to the increase of iPhones price.
Detailed explanation-2: -An increase in demand shifts the demand curve rightward, and a decrease in supply shifts the supply curve leftward.
Detailed explanation-3: -The demand curve shifts when the quantity of a product or service demanded at each price level changes. If the quantity demanded at each price level increases, the demand curve shifts rightward. Inversely, if the quantity demanded at each price level decreases, the demand curve will shift leftward.
Detailed explanation-4: -A change in tastes and preferences will cause the demand curve to shift either to the right or left. For example, if new research found that eating apples increases life expectancy and reduces illness, then more apples would be purchased at each and every price causing the demand curve to shift to the right.