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What is meant by a change in quantity demanded?
- a)A decrease in demand due to consumer preferences
- b)Movement along the demand curve due to price changes
- c)A shift in the demand curve due to external factors
- d)A permanent increase in demand for a good
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
What is meant by a change in quantity demanded?a) A decrease in demand...
Understanding Change in Quantity Demanded
In economics, the term "change in quantity demanded" specifically refers to changes in the amount of a good or service that consumers are willing to purchase, primarily due to price fluctuations.
Movement Along the Demand Curve
- A change in quantity demanded is represented by a movement along the demand curve.
- When the price of a good decreases, the quantity demanded typically increases. Conversely, if the price increases, the quantity demanded decreases.
Illustrating Price Changes
- For instance, consider a product priced at $10. If the price drops to $8, consumers may decide to buy more of that product, thus increasing the quantity demanded.
- This change reflects a movement down the demand curve (to the right), rather than shifting the entire curve itself.
Difference from Demand Shifts
- It's important to differentiate this from a "change in demand," which involves a shift of the entire demand curve due to factors like consumer preferences, income changes, or external influences.
- A shift in demand indicates that at every price point, consumers are now willing to buy more or less of the product regardless of price.
Conclusion
- Therefore, option B accurately captures the essence of a change in quantity demanded as it illustrates how price changes directly impact consumer purchasing behavior, while other options describe different economic concepts.
In economics, the term "change in quantity demanded" specifically refers to changes in the amount of a good or service that consumers are willing to purchase, primarily due to price fluctuations.
Movement Along the Demand Curve
- A change in quantity demanded is represented by a movement along the demand curve.
- When the price of a good decreases, the quantity demanded typically increases. Conversely, if the price increases, the quantity demanded decreases.
Illustrating Price Changes
- For instance, consider a product priced at $10. If the price drops to $8, consumers may decide to buy more of that product, thus increasing the quantity demanded.
- This change reflects a movement down the demand curve (to the right), rather than shifting the entire curve itself.
Difference from Demand Shifts
- It's important to differentiate this from a "change in demand," which involves a shift of the entire demand curve due to factors like consumer preferences, income changes, or external influences.
- A shift in demand indicates that at every price point, consumers are now willing to buy more or less of the product regardless of price.
Conclusion
- Therefore, option B accurately captures the essence of a change in quantity demanded as it illustrates how price changes directly impact consumer purchasing behavior, while other options describe different economic concepts.
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What is meant by a change in quantity demanded?a) A decrease in demand...
A change in quantity demanded refers to movement along the demand curve resulting from a change in the price of the good. It indicates how much more or less of the good consumers are willing to purchase at different price levels.
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What is meant by a change in quantity demanded?a) A decrease in demand due to consumer preferencesb) Movement along the demand curve due to price changesc) A shift in the demand curve due to external factorsd) A permanent increase in demand for a goodCorrect answer is option 'B'. Can you explain this answer? for Class 10 2025 is part of Class 10 preparation. The Question and answers have been prepared according to the Class 10 exam syllabus. Information about What is meant by a change in quantity demanded?a) A decrease in demand due to consumer preferencesb) Movement along the demand curve due to price changesc) A shift in the demand curve due to external factorsd) A permanent increase in demand for a goodCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Class 10 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is meant by a change in quantity demanded?a) A decrease in demand due to consumer preferencesb) Movement along the demand curve due to price changesc) A shift in the demand curve due to external factorsd) A permanent increase in demand for a goodCorrect answer is option 'B'. Can you explain this answer?.
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Solutions for What is meant by a change in quantity demanded?a) A decrease in demand due to consumer preferencesb) Movement along the demand curve due to price changesc) A shift in the demand curve due to external factorsd) A permanent increase in demand for a goodCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Class 10.
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