When the price of a good or service changes,
A)the demand curve shifts in the opposite direction.
B)the supply curve shifts in the opposite direction.
C)the supply curve shifts in the same direction.
D)there is a movement along a given supply curve.

Question

Quizplus · Accepted Answer

When the price of a good or service changes, there is a movement along a given supply curve or demand curve. This means that the quantity supplied or demanded changes in response to the price change, but the supply and demand curves themselves do not shift.

When the Price of a Good or Service Changes