Explain the difference between a change in quantity demanded and ...

[Marty]

Explain the difference between a change in quantity demanded and a change in demand.
 
  What will be an ideal response?

Question 2

Which of the following correctly describes a final good?
  i. A final good is bought by its final consumer.
  ii. A final good can be used by a firm as a component of another good or service.
  iii. Investment goods cannot be a final good.
 
  A) ii and iii B) i and iii C) i and ii D) i, ii and iii E) i only

[DHRUVSHAH]

Answer to Question 1

A change in quantity demanded of a product is caused by a change in the price of the product. It is represented by a movement along the product's demand curve. A change in demand for a product is caused by a change in a variable other than the price of the product. It is represented by a shift of the demand curve.

Answer to Question 2

E

[Marty]

Gracias!

[dreamfighter72]

Thanks for the timely response, appreciate it