Question : The demand curve's movement serves as an example.
Option 1: Income effect
Option 2: Change in quantity demanded
Option 3: Complement effect
Option 4: Shift in quantity demanded
Correct Answer: Change in quantity demanded
Solution : The demand curve's movement serves as an example of chnage in quanity demanded. A change along a curve is referred to as a movement. A movement on the demand curve indicates a shift in the price and quantity demanded from one point on the curve to another.
Question : "A change in demand" most strongly suggests a -
Question : The responsiveness of demand to income is defined as:
Question : When demand is perfectly inelastic, a change in price will result in:
Question : The percentage change in _______ divided by the percentage change in _______ is the income elasticity of demand.
Question : When demand is perfectly elastic, a decrease in price will result in:
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