Asked by
Ankita Makin
on Oct 12, 2024
Verified
When demand decreases,the demand curve shifts
A) on its axis,becoming flatter.
B) upward and to the right.
C) downward and to the left.
D) on its axis,becoming more vertical.
Demand Curve
A graph showing the relationship between the price of a good and the quantity demanded at those prices, typically downward sloping.
Demand
The quantity of a good or service that consumers are willing and able to purchase at various prices during a specified period.
Shifts
Refers to changes in the position of demand or supply curves in economic models, often due to changes in external factors such as technology, preferences, or policy.
- Differentiate between a movement along the demand or supply curves and a shift of the entire curves.
Verified Answer
MA
Learning Objectives
- Differentiate between a movement along the demand or supply curves and a shift of the entire curves.