When Quantity Demanded Decreases in Response to a Change in Price

question 149

Multiple Choice

When quantity demanded decreases in response to a change in price:

• A)​the demand curve shifts to the right.
• B)​the demand curve shifts to the left.
• C)​there is a movement down along the demand curve.
• D)​there is a movement up along the demand curve.

---

Definitions:

Authoritarian States

Nations governed by a single ruler or a small group of individuals, where individual freedoms and democratic processes are limited.

Government Allocates

This term signifies the process by which a government distributes resources or funds among various departments, projects, or areas of need within the country.

Capitalism

An economic system characterized by private or corporate ownership of capital goods, investments determined by private decision, and prices, production, and the distribution of goods determined mainly by competition in a free market.

Market-based Economy

An economic system where prices and the distribution of goods are determined by supply and demand in a free market.