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Author Question: Explain the difference between a change in demand and a change in quantity demanded. What will be ... (Read 136 times)

magmichele12

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on: Jun 29, 2018
Explain the difference between a change in demand and a change in quantity demanded.
 
  What will be an ideal response?

Question 2

Gross domestic product understates the total production of final goods and services because of the omission of
 
  A) intermediate goods. B) exports.
  C) inflation. D) the underground economy.


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macagnavarro

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A change in demand is represented by a shift in the demand curve and can be caused by changes in non-price determinants of demand such as income, preferences, or prices of related goods. A change in quantity demanded is represented by a movement along the demand curve and is caused by a change in the price of the good in question.

Answer to Question 2

D


magmichele12

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

amandalm

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Reply 3 on: Yesterday
Excellent

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