If, in response to an increase in the price of chocolate, the quantity of chocolate demanded decreases, then economists would describe this as
A)a decrease in demand.
B)a decrease in quantity demanded.
C)a change in consumer income.
D)a decrease in consumers' taste for chocolate.

Question

Quizplus · Accepted Answer

When the price of chocolate increases and the quantity demanded decreases, it is a movement along the demand curve, rather than a shift in the entire demand curve. This is known as a decrease in quantity demanded.

If, in Response to an Increase in the Price of Chocolate