Change in the demand implies _____________
a) Increase or decrease in demand of a good due to change in its price.
b) Increase or decrease in demand of a good due to change in the price of its substitute.
c) Increase or decrease in demand of a good due to change in the price of its complementary goods.
d) Shifting of demand curve
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ANSWER:
D Shifting of demand curve
EXPLAINATION:
A change in demand represents a shift in consumer desire to purchase a particular good or service, irrespective of a variation in its price. The change could be triggered by a shift in income levels, consumer tastes, or a different price being charged for a related product.
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