Asked by
Faith Ngibuini
on Dec 05, 2024Verified
Which factor would result in a movement along the demand curve?
A) a change in preferences
B) an increase in the number of buyers
C) an increase in the number of suppliers
D) a decrease in income
Demand Curve
A graph showing the relationship between the price of a good and the quantity of that good consumers are willing and able to purchase at various prices.
Movement Along
A change in the quantity demanded or supplied of a good or service resulting from a change in its price, represented graphically as a movement along a demand or supply curve.
Preferences
The subjective tastes and desires that influence individuals' choices between different goods, services, or actions.
- Understand the factors that cause movement along the demand curve versus shifts in the demand curve.
Verified Answer
KC
Learning Objectives
- Understand the factors that cause movement along the demand curve versus shifts in the demand curve.