Asked by monay lynch on Sep 24, 2024
Verified
The change in any factor other than ________ would shift the demand curve
A) Weather
B) interest rate
C) Price
D) all of the above
Demand Curve
A graph showing the relationship between the price of a good and the quantity of that good consumers are willing to buy.
- Interpret the impact that diverse factors, including personal income, pricing of related merchandise, and external factors such as health advantages, have on the curves representing demand and supply.
Verified Answer
NH
Natilia Hendrix3 days ago
Final Answer :
C
Explanation :
The demand curve represents the relationship between the price of a good and the quantity demanded. Changes in factors other than the price of the good itself—such as consumer income, preferences, prices of related goods, and expectations—can shift the demand curve. Changes in the price of the good would move along the demand curve, not shift it.
Learning Objectives
- Interpret the impact that diverse factors, including personal income, pricing of related merchandise, and external factors such as health advantages, have on the curves representing demand and supply.
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