Asked by Sophia Colosimo on Jul 21, 2024
Verified
A move from G to H represents
A) an increase in quantity demanded.
B) a decrease in quantity demanded.
C) an increase in demand.
D) a decrease in demanD.
Quantity Demanded
Refers to the total amount of a good or service that consumers are willing and able to purchase at a given price level in a given period.
Demand
In economics, it represents consumers' desire to purchase goods and services at certain prices.
- Delineate the distinctions between a repositioning in demand and a revision in the quantity requested by consumers.
- Analyze the graphical interpretation of demand dynamics and the quantity of goods consumers are willing to purchase.
Verified Answer
SP
Salty ParrottJul 24, 2024
Final Answer :
C
Explanation :
A move from G to H represents an increase in quantity demanded, which would be represented by a movement along the demand curve. However, the question is asking about a move from G to H, which would indicate a shift in the demand curve, rather than a movement along it. An increase in demand would shift the entire curve to the right, resulting in an increase in both price and quantity demanded. Therefore, the correct answer is C, an increase in demand.
Learning Objectives
- Delineate the distinctions between a repositioning in demand and a revision in the quantity requested by consumers.
- Analyze the graphical interpretation of demand dynamics and the quantity of goods consumers are willing to purchase.