Which statement is CORRECT?
A) A change in demand is a movement along the demand curve,and a change in the quantity demanded is a shift of the demand curve.
B) Both a change in the quantity demanded and a change in demand are movements along the demand curve,only in different directions.
C) Both a change in the quantity demanded and a change in demand are shifts of the demand curve,only in different directions.
D) A change in the quantity demanded is a movement along the demand curve,and a change in demand is a shift of the demand curve.

Question

Quizplus · Accepted Answer

A change in the quantity demanded refers to a movement along the demand curve, which occurs due to a change in the price of the product. A change in demand, on the other hand, refers to a shift of the entire demand curve, which occurs due to a change in any variable other than the price (such as income, taste, price of substitute goods, etc.). Therefore, option D is the correct statement.

Which Statement Is CORRECT