Asked by
Meaghan Dailey
on Oct 12, 2024Verified
A change in demand refers to
A) a shift of the entire demand curve caused by a change in price.
B) a movement along a demand curve.
C) a shift of the entire demand curve caused by a determinant of demand other than price.
D) None of the choices are correct.
Demand Curve
A graph showing the relationship between the price of a good and the quantity demanded by consumers, typically downward sloping.
Determinant of Demand
Factors that influence the demand for a good or service, including price, consumer preferences, income levels, and prices of related goods.
- Become familiar with the aspects that result in supply curve adjustments.
Verified Answer
BC
Learning Objectives
- Become familiar with the aspects that result in supply curve adjustments.