ECONOMICS
SUPPLY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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there is always an increase in prices.
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there is a change in quantity demanded at every price.
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there is always a decrease in both price and quantity demanded.
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there is always an increase in quantity demanded.
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Detailed explanation-1: -A demand curve shift refers to fundamental changes in the balance of supply and demand that alter the quantity demanded at the same price. For example, you may be willing to buy 10 apples at $1. If the grocery store drops the price to $0.75, then that demand curve movement means you might buy 15 apples instead of 10.
Detailed explanation-2: -A change in any one of the underlying factors that determine what quantity people are willing to buy at a given price will cause a shift in demand. Graphically, the new demand curve lies either to the right (an increase) or to the left (a decrease) of the original demand curve.
Detailed explanation-3: -Under change in quantity demanded, there is a movement along the same demand curve, whereas under change in demand, there is a shift of the demand curve.