The difference between a change in quantity demanded and a change in demand is t
ID: 1241323 • Letter: T
Question
The difference between a change in quantity demanded and a change in demand is that a change in:a. quantity demanded is caused by a change in a good's own price, while a change in demand is caused
by a change in some other variable, such as income, tastes, or expectations.
b. demand is caused by a change in a good's own price, while a change in quantity demanded is caused
by a change in some other variable, such as income, tastes, or expectations.
c. quantity demanded is a change in the amount people actually buy, while a change in demand is a
change in the amount they want to buy.
d. This is a trick question. A change in demand and a change in quantity demanded are the same thing.
Explanation / Answer
b. demand is caused by a change in a good's own price, while a change in quantity demanded is caused by a change in some other variable, such as income, tastes, or expectation
Related Questions
Hire Me For All Your Tutoring Needs
Integrity-first tutoring: clear explanations, guidance, and feedback.
Drop an Email at
drjack9650@gmail.com
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.