ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Advertising
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Population
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Price
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Consumer expectations
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Detailed explanation-1: -Answer and Explanation: A change in the price of a good does not shift the demand curve.
Detailed explanation-2: -The price of related goods and consumer income do not directly affect the demand curve.
Detailed explanation-3: -Shifts in the supply and demand curves are only caused by changes other than price changes. Price changes only cause a movement along the demand or supply curve. This is because at higher price levels a consumer will simply demand less quantity, so we move along the demand curve to a lower level of quantity.
Detailed explanation-4: -Changing tastes or preferences. Changes in the composition of the population. Related goods. Changes in expectations about future prices or other factors that affect demand.
Detailed explanation-5: -Change in Taste and Preferences. Population Increase or Decrease. Price Change of a Related Good. Change in the Expected Future Prices. Change in the Income Level of Buyers. 14-Jan-2022