What Is the Difference Between a Change in the Demand

question 117

Multiple Choice

What is the difference between a change in the demand and a change in quantity demanded?

• A) A change in demand requires a movement along the demand curve, a change in quantity demanded does not.
• B) A change in demand shifts the entire curve, a change in quantity demanded means price changed.
• C) A change in quantity demanded means consumer preferences have changed.
• D) A change in demand creates a new market equilibrium, a change in quantity demanded does not.

---

Definitions:

Income Elasticity

A measure of how much the demand for a good or service changes in response to changes in the consumer's income.

Midpoint Method

A technique used to calculate the percentage change between two values, avoiding the problem of path dependency by using the average of the initial and final values as the base.