A movement along the demand curve for automobiles is caused by a change in:

Question

Quizplus · Accepted Answer

A movement along the demand curve for automobiles is caused by a change in the price of automobiles. This is because the demand curve shows the relationship between the price of a product and the quantity demanded, holding all other factors constant. If the price of automobiles changes, it will affect the quantity demanded and cause a movement along the demand curve. Changes in factors such as the price of gasoline, steel, or consumers' incomes would shift the entire demand curve either to the left or the right, indicating a change in the level of demand at each price point.

A Movement Along the Demand Curve for Automobiles Is Caused