ECONOMICS (CBSE/UGC NET)

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 change in quantity demanded refers to a movement along the demand curve, which is caused only by a change in price.

Detailed explanation-3: -When quantity demanded increases in response to a change in price implies: there is a movement from one point to another along the demand curve. the demand curve shifts to the right.

Detailed explanation-4: -This option is correct because when quantity demanded decreases in response to a change in price, there must be an upward movement along the demand curve. It means as price rises, leading to a reduction in the quantity demanded, there is upward and leftward movement along the curve.

Detailed explanation-5: -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.