Question : "A change in demand" most strongly suggests a -
Option 1: Movement along the curve
Option 2: Movement along the price curve
Option 3: Change in quantity demanded of a good
Option 4: Shift in the demand curve
Correct Answer: Shift in the demand curve
Solution : A shift in demand reflects a change in consumer preferences towards a certain commodity or service, regardless of price changes. Changes in consumer preferences, income levels, or the price being charged for a comparable product could all be the cause of the change. Hence option d is the correct answer.
Question : The demand curve's movement serves as an example.
Question : When demand is perfectly inelastic, a change in price will result in:
Question : When demand is perfectly elastic, a decrease in price will result in:
Question : The price elasticity of demand is calculated as the:
Question : Assertion: If price falls and quantity demanded increases, this is represented by a movement along a given demand curve. Reason: If price falls and quantity demanded increases, this is represented by a shift of the demand curve.
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