Does a change in consumers' tastes lead to a movement along the demand curve or to a shift in the demand curve?

Does a change in price lead to a movement along the demand curve or to a shift in the demand curve?

Explain your answers well written.

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Expert Solution

Does a change in consumers' tastes lead to a movement along the demand curve or to a shift in the demand curve?
It leads to a shift of the demand curve. a favorable change in tasts leads to higher quantity demanded at each price i.e. right shift of demand curve. an unfavorable change shifts the demand curve to the left.

Does a change in price lead to a movement along the demand curve or to a shift in the demand curve?
the change in price leads to a movement along the demand curve. THis is because the demadn curve assumes all factors except the price to be constant. IT shows the quantity demanded at each price level

Rahul Sunny answered 2 years ago

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