Podcast
Questions and Answers
What happens to the demand curve when there is a change in quantity demanded due to a change in one or more other factors?
What happens to the demand curve when there is a change in quantity demanded due to a change in one or more other factors?
- It shifts (correct)
- It rotates
- It becomes steeper
- It becomes flatter
When the income of consumers increases, what happens to the demand curve?
When the income of consumers increases, what happens to the demand curve?
- It becomes steeper
- It shifts to the left
- It becomes flatter
- It shifts to the right (correct)
What causes movement of the demand curve?
What causes movement of the demand curve?
- Change in consumer preferences
- Change in production technology
- Change in government regulations
- Change in price with other factors constant (correct)
What does a shift to the left of the demand curve indicate?
What does a shift to the left of the demand curve indicate?
How does a change in consumer preferences affect the demand curve?
How does a change in consumer preferences affect the demand curve?
What is the movement of the demand curve?
What is the movement of the demand curve?
What factors can affect the demand curve?
What factors can affect the demand curve?
When does a movement along the demand curve occur?
When does a movement along the demand curve occur?
What happens to the demand curve when there is a change in consumer income?
What happens to the demand curve when there is a change in consumer income?
In what direction can a movement along the demand curve occur?
In what direction can a movement along the demand curve occur?
What is the significance of equilibrium in the market?
What is the significance of equilibrium in the market?
What happens to price and quantity when there is a shortage in the market?
What happens to price and quantity when there is a shortage in the market?
How do consumers respond to an increase in price due to a shortage?
How do consumers respond to an increase in price due to a shortage?
What is the impact of a surplus on the market price?
What is the impact of a surplus on the market price?
How does the quantity demanded change in response to a decrease in price due to a surplus?
How does the quantity demanded change in response to a decrease in price due to a surplus?
What is the equilibrium price in the given data set for carrots?
What is the equilibrium price in the given data set for carrots?
What is the equilibrium quantity in the given data set for carrots?
What is the equilibrium quantity in the given data set for carrots?
How do producers respond to a decrease in price due to a surplus?
How do producers respond to a decrease in price due to a surplus?
What happens to total market demand and supply at the equilibrium point?
What happens to total market demand and supply at the equilibrium point?
How do prices act to eliminate shortages and surpluses in the market?
How do prices act to eliminate shortages and surpluses in the market?
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