5 Questions
What is the definition of a shift in the demand curve?
A shift in the demand curve occurs when something alters the quantity demanded at any given price.
What is an increase in demand?
An increase in demand refers to any change that increases the quantity demanded at every price, causing the demand curve to shift to the right.
What is a decrease in demand?
A decrease in demand refers to any change that reduces the quantity demanded at every price, causing the demand curve to shift to the left.
What are two variables that can cause the demand curve to shift?
Two variables that can cause the demand curve to shift are income and the price of related goods.
How does income affect demand for goods?
In most cases, demand falls when income falls (for normal goods), but for some goods (like public transport or fast food), demand increases when income falls (for inferior goods).
Quiz: Understanding Shifts in the Demand Curve Test your knowledge on the concept of shifts in the demand curve with this quiz. Learn about the factors that can cause the demand curve to shift and how it affects the quantity demanded at different prices. Increase your understanding of demand dynamics in economics.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
