A change in price changes the quantity demanded and is represented by a movement along the demand curve.

Name: A change in price changes the quantity demanded and is represented by a movement along the demand curve.
Brand: Quizplus
Rating: 4.8 (36 reviews)

Question

Quizplus · Accepted Answer

This is known as the law of demand, which states that as the price of a good or service increases, the quantity demanded decreases, and vice versa. It is represented by a movement along the demand curve.

A Change in Price Changes the Quantity Demanded and Is