Questions
Multiple choice
Which situation describes a shift in demand rather than a movement along the curve?
Options
A.Changes in consumer preferences.
B.A change in the price of the product.
C.Seasonal changes affecting sales.
D.A change in consumer income.
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Step-by-Step Analysis
To determine whether a situation causes a shift in demand or a movement along the demand curve, we need to distinguish between non-price determinants and price changes.
Option 1: Changes in consumer preferences. This is a classic non-price determinant of demand. When tastes or preferences shift in favor of a good, the entire demand curve ......Login to view full explanationLog in for full answers
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