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The causes of change in demand is due to the rise and fall of price.
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Which term refers to the extent to which a change in price causes a change in demand?
Demand-price elasticity.
What is relative elasticity of demand?
reduction in price causes more change in demand
State the factors causing the change in quantity demand?
change in life style also causes change in quantity demand for eg: in 1960's formal wear were in demand but with change in style nowadays denim wear in demand.
What is called when each change in price causes a relatively larger change in quantity demand?
Elastic
What causes currency rate to change?
Demand and supply of domestic currencies with respect to other foreign currency causes currency rates to change.
Which term refers to the extent to which a change in price causes a change in demand?
Demand-price elasticity.
What are causes of change in demand?
weed....lots of it
What is relative elasticity of demand?
reduction in price causes more change in demand
State the factors causing the change in quantity demand?
change in life style also causes change in quantity demand for eg: in 1960's formal wear were in demand but with change in style nowadays denim wear in demand.
What is called when each change in price causes a relatively larger change in quantity demand?
Elastic
What causes currency rate to change?
Demand and supply of domestic currencies with respect to other foreign currency causes currency rates to change.
Which will not ceteris paribus causes the demand curve for good A to shift?
A change in the price of A.
What does a flat line mean in a demand curve?
If a market is faced with a horizontal demand curve, then the demand in that market by consumers is perfectly elastic. More simply, any minuscule change in price causes a huge change in quantity demanded.
The primary difference between a change in demand and a change in the quantity demanded is?
a change in demand is a movement along the demand curve, and a change in quantity demanded is a shift in the demand curve
What is the Four determinants of price elasticity of demand?
perfectly elastic demand the quantity change by infinitely large amount proportion due to the small change in price, is called perfectly elastic demand. perfectly inelastic demand the quantity demand doesn't change at all due to the change in price is called perfectly inelastic demand. relatively elastic demand the quantity demand changes by a little more percentage than the change in price is called relatively elastic demand. relatively inelastic demand the percentage change in quantity demand is less than the percentage change change in its price is called relatively inelastic demand unitary elastic demand the percentage change in quantity demand is equal to the percentage change in price is called unitary elastic demand
Total expenditures are determined by what?
Dividing the change in demand for the product by its change in price. e=(change in demand)%/(change in price)%
A shift in the demand curve is called?
A change in quantity demanded
