Asked by
Caleb Thomas
on Nov 30, 2024
Verified
A move from D3 to D1 is a(n) ____.
A) increase in quantity demanded
B) decrease in quantity demanded
C) increase in demand
D) decrease in demand
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a given price level.
Demand
The level of demand for goods or services that individuals are ready and capable of purchasing at multiple price points during a set period.
Increase
An upward change or growth in value, quantity, or size.
- Clarify the difference between movements along the demand or supply curve and the overall shifts in demand or supply curves.
Verified Answer
MC
Learning Objectives
- Clarify the difference between movements along the demand or supply curve and the overall shifts in demand or supply curves.