meaning of the..with the aid of a diagram
Answers
Answer:
please put up full question.
Explanation:
Answer:
The key distinction to make here is that demand is represented by the demand curve, which is the demand for a good at all possible prices. On the other hand, Quantity Demanded represents the quantity of a good or service demanded at a specific price, so it would be represented by a specific point on the demand curve.
A change in Demand denotes that the whole demand curve is moving, due to the change in a non price determinant of demand.
If we take the example of house prices, a change in demand would move the curve left or right, and would usually result from something like an rise in average income of consumers. This is a non price determinant of demand, so the curve shifts. We can see this visually in the case of D moving to D1 (an increase in Demand) and D2 (a decrease in Demand).