A change in which of the following shifts the demand curve?

Question

Quizplus · Accepted Answer

A change in tastes and preferences of consumers will shift the demand curve. As consumers' preferences change, the quantity demanded at each price level will change, causing the demand curve to shift left or right.

Answer: A and D
 A change in technology or a change in the price of resources used to produce the product can affect the supply curve rather than the demand curve. If technology improves, it will lower the cost of production and increase the supply of the product, shifting the supply curve to the right. Similarly, if the price of resources increases, it will increase the cost of production and decrease the supply of the product, shifting the supply curve to the left. However, if these changes in technology or resources affect the final product in a way that appeals to consumers, it may also shift the demand curve.

A Change in Which of the Following Shifts the Demand