ECONOMICS
SUPPLY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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results in a movement downward and to the right along a demand curve.
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results in a movement upward and to the left along a demand curve.
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shifts the demand curve to the left.
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shifts the demand curve to the right.
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Detailed explanation-1: -The movement of quantity demanded along the same demand curve due to a price decrease is also called the expansion of demand, while the increase in demand is denoted by a rightward shift of the demand curve. Thus, an increase in quantity demanded results in a downward movement and to the right of a demand curve.
Detailed explanation-2: -A decrease in demand will cause the equilibrium price to fall; quantity supplied will decrease.
Detailed explanation-3: -a movement upward and to the left along a given demand curve is called a decrease in demand.
Detailed explanation-4: -A decrease in quantity demanded represents movement along the demand curve with changes in price. Take the example of the demand for avocados. When the price is high, at $2, consumers are less likely to buy, and the demand is low.