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A movement along the demand curve refers to a change in the quantity demanded of a good or service resulting from a change in its price, while all other factors remain constant. If the price decreases, there is an increase in the quantity demanded, which is represented by a movement down the curve. Conversely, if the price increases, the quantity demanded decreases, resulting in a movement up the curve. This illustrates the inverse relationship between price and quantity demanded, as described by the law of demand.
What else can I help you with?
Is this true or false an increase in demand is represented by a movement up the demand curve?
That would depend on what point of the curve you mean.
What causes the movement along the demand curve that shows a change in the quality of the product purchased?
If you mean quality, THEN AN INCREASE IN AWARENESS OF THE INCREASED "UTILITY" INCREASESDEMAND AND MOVES THE LINE UPWARD, INDICATING THE INCREASE.iF you mean quantity, increaseS along the demand curve are usually indicative of price, specificallhy a decrease. However, sometimes increases in demand accompany an increase in utility, i.e. more uses for the product; differing applications that can be satisfied within a price range. i.e. when additional uses were discovered for Napha in the manufacture of plastics. OBVIOUSLY, THAT MAY INCREASE DEMAND, BUT MAY NOT MOVE THE PRICE UPEWARD, DEPENDING ON SUPPLY.
3 Why is it difficult to judge the price elasticity of demand if you are merely observing the appearance of a demand curve on a graph?
Because elasticity is changes depending on the price it is evaluated at. This will then mean that elasticity is different at different point on a demand curve. It can also depend on the scale the demand curve is drawn to
What does Change in Quantity Supplied mean?
It indicates that the availability of a certain product has changed. In economic terms, a change in the quantity supplied would correspond to movement along the supply curve. For example, if the amount of widgets (any given product) in a market increases, the demand and price for that product decreases. If the number of widgets were to decrease, the demand and price would increase.
What does a perfectly elastic demand curve mean?
it is the graphic representation of the changes in demand due to the availability of equal important substitude.
Is this true or false an increase in demand is represented by a movement up the demand curve?
That would depend on what point of the curve you mean.
What causes the movement along the demand curve that shows a change in the quality of the product purchased?
If you mean quality, THEN AN INCREASE IN AWARENESS OF THE INCREASED "UTILITY" INCREASESDEMAND AND MOVES THE LINE UPWARD, INDICATING THE INCREASE.iF you mean quantity, increaseS along the demand curve are usually indicative of price, specificallhy a decrease. However, sometimes increases in demand accompany an increase in utility, i.e. more uses for the product; differing applications that can be satisfied within a price range. i.e. when additional uses were discovered for Napha in the manufacture of plastics. OBVIOUSLY, THAT MAY INCREASE DEMAND, BUT MAY NOT MOVE THE PRICE UPEWARD, DEPENDING ON SUPPLY.
3 Why is it difficult to judge the price elasticity of demand if you are merely observing the appearance of a demand curve on a graph?
Because elasticity is changes depending on the price it is evaluated at. This will then mean that elasticity is different at different point on a demand curve. It can also depend on the scale the demand curve is drawn to
What does it mean to shift the demand curve to the right?
an increase in quantity demanded.
What does Change in Quantity Supplied mean?
It indicates that the availability of a certain product has changed. In economic terms, a change in the quantity supplied would correspond to movement along the supply curve. For example, if the amount of widgets (any given product) in a market increases, the demand and price for that product decreases. If the number of widgets were to decrease, the demand and price would increase.
What does a perfectly elastic demand curve mean?
it is the graphic representation of the changes in demand due to the availability of equal important substitude.
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.
What does it mean when the demand curve shifts to the right?
When the demand curve shifts to the right, it means that there is an increase in demand for a product or service at every price point. This can be due to factors such as changes in consumer preferences, income levels, or advertising efforts.
What does it mean if the demand curve shifts to the right and how does it impact the market equilibrium"?
When the demand curve shifts to the right, it means that consumers are willing to buy more of a product at each price level. This increase in demand leads to a higher equilibrium price and quantity in the market.
Why price on y-axis in demand function?
bez when demand function have price on y-axis, its mean that price have the inverse relation to the demand, in other words price lead to demand curve.
What happens when demand rises by more than supply falls?
If demand rises, the demand curve will shift to the right. A fall in supply will mean that the curve moves leftwards. The result is higher prices at a lower quantity. Excess demand may occur
What does it mean when a demand curve shifts to the left?
When a demand curve shifts to the left, it means that there is a decrease in the quantity demanded at every price level. This could be due to factors such as a decrease in consumer income, a change in consumer preferences, or the introduction of a substitute product.
