Changes in demand may be accounted for by changes in a number of nonprice
determinants of demand (such as consumer tastes, number of consumers,
expectations, etc.), but changes in quantity demanded are only the result of price changes.

Question

Changes in demand may be accounted for by changes in a number of nonprice
 determinants of demand (such as consumer tastes, number of consumers,
 expectations, etc.), but changes in quantity demanded are only the result of price changes.

Quizplus · Accepted Answer

Changes in quantity demanded are indeed only the result of price changes, while changes in demand are caused by factors other than price, such as consumer tastes, number of consumers, and expectations.

Changes in Demand May Be Accounted for by Changes in a Number