A change in the quantity buyers want to purchase, prompted by any reason other than a change in price (e.g., increase in income, change in tastes), is a change in demand. In graphical terms, it is a shift of the demand curve. If, in contrast the decision to buy more or less is promted by a change in the good's price, then it is a change in quantity demanded, In graphical terms, a change in quantity demanded is a movement along an unchanging demand curve.
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Change in demand vs. change in quantity demand
Thursday, July 22, 2010Posted by investingport.com at 6:24 PM
Labels: Financial Dictionary
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1 comments:
Very well explained.
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