Asked by Rachel Sawyer on Jun 03, 2024
Verified
If something happens to alter the quantity demanded at any given price, then the demand curve shifts.
Demand Curve
A visual depiction showing how the quantity of a product demanded is related to its price.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a specific price, holding all else constant.
- Absorb the nuances of how demand and supply curves interact and the nature of their shifts.
Verified Answer
ZK
Zybrea KnightJun 03, 2024
Final Answer :
True
Explanation :
When the quantity demanded changes at any given price due to factors other than the price itself (like changes in income, tastes, or prices of other goods), it results in a shift of the demand curve.
Learning Objectives
- Absorb the nuances of how demand and supply curves interact and the nature of their shifts.
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