Once the demand curve for a product or service is drawn,it
A)remains stable over time.
B)can shift either rightward or leftward.
C)is possible to move along the curve,but the curve will not shift.
D)tends to become steeper over time.

Question

Quizplus · Accepted Answer

The demand curve for a product or service can shift either rightward or leftward due to changes in factors such as consumer income, preferences, and availability of substitutes. Therefore, B is the best choice. A is incorrect because demand can change due to various factors that can cause the demand curve to shift. C is incorrect because moving along the curve represents a change in quantity demanded, not a shift in the entire curve. D is incorrect because the steepness of the demand curve is determined by the responsiveness of demand to changes in price, not by the passage of time.

Once the Demand Curve for a Product or Service Is