ECONOMICS
SUPPLY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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increase in demand.
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decrease in demand.
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decrease in quantity demanded.
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increase in quantity demanded.
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Detailed explanation-1: -a decrease in supply is represented by. a leftward shift of the supply curve. a movement upward and to the left along a given demand curve is called a decrease in demand.
Detailed explanation-2: -Movement: An upward movement along the demand curve represents a fall in quantity demanded due to rise in price while a downward movement represents a rise in quantity demanded due to fall in price.
Detailed explanation-3: -Upward Movement indicates a decrease in demand, i.e., a decrease in demand due to a price increase. Downward Movement indicates an increase in demand, i.e., demand for the product or service rises as prices decrease.
Detailed explanation-4: -When the price increases from OP to OP”, the quantity demanded falls to OL. Also, the demand curve moves UPWARD. When the price decreases from OP to OP’, the quantity demanded rises to ON. Also, the demand curve moves DOWNWARD.
Detailed explanation-5: -A movement along a demand curve that results from a change in price is called a change in quantity demanded. Note that a change in quantity demanded is not a change or shift in the demand curve; it is a movement along the demand curve.