ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -If the demand for chocolate increases, the demand curve shifts to the left. Price is the only factor that causes a change in quantity demanded. A shift of the curve means that the curve either moves left or right. If movie prices increase by 30% and attendance drops by 40%, demand is considered inelastic.

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 to the left if the determinant causes demand to drop. That means less of the good or service is demanded. That happens during a recession when buyers’ incomes drop. They will buy less of everything, even though the price is the same.

Detailed explanation-4: -Answer and Explanation: A change in price causes a shift in the demand curve, while a change in any other factor leads to a movement along the demand curve. The given statement is FALSE.

Detailed explanation-5: -Demand curves can shift. Changes in factors like average income and preferences can cause an entire demand curve to shift right or left. This causes a higher or lower quantity to be demanded at a given price.