ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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.

Detailed explanation-2: -Answer and Explanation: A change in the price of a good does not shift the demand curve. Instead, it causes a movement along the demand curve. A change in any other factors will shift the demand curve to the left or to the right.

Detailed explanation-3: -Demand (the table or the graph) does not change when the price changes because demand INCLUDES various prices and various quantities. Demand is NOT how much we buy. Note that our definition of demand includes the ceteris paribus assumption. When we develop a demand curve only the price and quantity demanded change.

Detailed explanation-4: -Factors that can shift the demand curve for goods and services, causing a different quantity to be demanded at any given price, include changes in tastes, population, income, prices of substitute or complement goods, and expectations about future conditions and prices.

Detailed explanation-5: -The price of related goods and consumer income do not directly affect the demand curve.