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

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

Expert Solution

The shift in demand curve.

The shift in the demand curve occurs when there is change in taste and preferences, population,income of the consumer, changes in the price of related goods and expectation about the future price and conditions.

Movement along the demand curve

The change in demand or movement along the demand curves is caused only by change in price. In this situation, th demand curve does not move rather it move along the exisisting demand curve.

a). The chane in the consumer tastes lead to shift in the demand curve.

b).A change in price lead to a movement along the demand curve

Rahul Sunny answered 2 years ago

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