1. Shift in demand curve of change in demand curve occurs due to
of the
2. Change in consumers tastes and preference causes
particular goods (changes in the demand).
3. Movement in the demand is the result of
4. Contraction of demand is the result of
5. When price of Z rises it causes an increase in the demand for good X. Then
Xand Z are
6. When price of z rises, then the quantity demanded of X reduces. What is
the relation ship between X and Z
7. Relation between income and normal goods are
8. If an increase in the price of blue jeans leads to an increase in demand for
tennis shoes, then blue jeans and tennis shoes
are
9. For which demand increases as price increases
10. Bread and butter have
cross demand (positive/
montina
Answers
Answer:
In economics, a demand curve is a graph depicting the relationship between the price of a certain commodity (the y-axis) and the quantity of that commodity that is demanded at that price (the x-axis). Demand curves may be used to model the price-quantity relationship for an individual consumer (an individual demand curve), or more commonly for all consumers in a particular market (a market demand curve). It is generally assumed that demand curves are downward-sloping, as shown in the adjacent image. This is because of the law of demand: for most goods, the quantity demanded will decrease in response to an increase in price, and will increase in response to a decrease in price.[1]
An example of a demand curve shifting. D1 and D2 are alternative positions of the demand curve, S is the supply curve, and P and Q are price and quantity respectively. The shift from D1 To D2 means an increase in demand with consequences for the other variables
Demand curves are used to estimate behaviors in competitive markets, and are often combined with supply curves to estimate the equilibrium price (the price at which sellers together are willing to sell the same amount as buyers together are willing to buy, also known as market clearing price) and the equilibrium quantity (the amount of that good or service that will be produced and bought without surplus/excess supply or shortage/excess demand) of that market.[1]:57 In a monopolistic market, the demand curve facing the monopolist is simply the market demand curve.
Movement along the Demand Curve is when the commodity experience change in both the quantity demanded and price, causing the curve to move in a specific direction. The shift in the demand curve is when, the price of the commodity remains constant, but there is a change in quantity demanded due to some other factors, causing the curve to shift to a particular side. [2]
Demand curves are usually considered as theoretical structures that are expected to exist in the real world, but real world measurements of actual demand curves are difficult and rare.[3]