Asked by
Mindy Fambrough
on Nov 17, 2024Verified
Which of the following changes would not shift the demand curve for a good or service?
A) A change in income.
B) A change in the price of the good or service.
C) A change in expectations about the future price of the good or service.
D) A change in the price of a related good or service.
Demand Curve
A graphical representation depicting the relationship between the price of a good and the quantity demanded by consumers, usually showing an inverse correlation.
Income Change
A variation in the amount of earnings received by a household or individual, which could arise from sources such as wages, investments, or benefits.
Price Change
Refers to the variance in the cost of goods or services over time, which can be an increase or a decrease.
- Distinguish between movement along the demand curve and demand curve shifts.
Verified Answer
AW
Learning Objectives
- Distinguish between movement along the demand curve and demand curve shifts.