ECONOMICS
SUPPLY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Demand would increase
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Demand would decrease
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Demand would be unchanged
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Quantity Demanded would increase
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Detailed explanation-1: -An increase in demand happens when more is purchased at the same price and the A decrease same quantity is purchased at a higher price. Decrease in demand happens when less is purchased at the same price or the same quantity at a lower price. An increase in demand is denoted by a shift in the demand curve to the right.
Detailed explanation-2: -The same inverse relationship holds for the demand for goods and services. However, when demand increases and supply remains the same, the higher demand leads to a higher equilibrium price and vice versa. Supply and demand rise and fall until an equilibrium price is reached.
Detailed explanation-3: -Factors such as taxes and government regulation, the market power of suppliers, the availability of substitute goods, and economic cycles can all shift the supply or demand curves or alter their shapes.
Detailed explanation-4: -Are there more factors that have an impact on change in demand or change in quantity demanded? A change in demand has more factors since △ D is a whole new curve because of one of the five things.