If the quantity of chocolate demanded decreases as the price of chocolate increases, economists would describe this as:
A)a decrease in demand.
B)a decrease in quantity demanded.
C)a change in consumer income.
D)a decrease in consumers' taste for chocolate.

Question

Quizplus · Accepted Answer

A decrease in quantity demanded is a movement along the demand curve due to a change in price, while a decrease in demand is a shift of the entire demand curve due to a change in some external factor, such as consumer tastes, income, or prices of substitutes or complements. Therefore, since the decrease in quantity demanded is directly caused by the increase in price, and not by an external factor, the correct answer is B.

If the Quantity of Chocolate Demanded Decreases as the Price