change in quantity demanded is represented by a blank______ the demand

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05-03-2025

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The statement "Change in quantity demanded is represented by a movement along the demand curve" is a fundamental concept in economics. Let's explore this idea in detail, drawing upon insights from resources like CrosswordFiend (while providing added context and analysis beyond their concise clues).

What is a Demand Curve?

Before delving into movements along the curve, we need to understand what the curve itself represents. A demand curve is a graphical representation of the relationship between the price of a good or service and the quantity demanded at various price points, ceteris paribus. That crucial phrase, "ceteris paribus," means "all other things being equal." This assumes factors besides price (like consumer income, tastes, prices of related goods, etc.) remain constant.

Movement Along vs. Shift of the Demand Curve:

This is where the core concept comes in. A change in quantity demanded is different from a change in demand.

• Change in Quantity Demanded: This refers to a change in the amount of a good or service consumers are willing and able to buy in response to a price change. It's shown as a movement along the existing demand curve. If the price goes up, we move up the curve (less quantity demanded); if the price goes down, we move down the curve (more quantity demanded).

• Change in Demand: This is a shift of the entire demand curve. This happens when one of those "other things" (besides price) changes. For example:

  • Consumer Income: An increase in consumer income might shift the demand curve to the right (increased demand for normal goods) or left (decreased demand for inferior goods).
  • Consumer Tastes: A popular new trend could shift the demand curve for a related product to the right (increased demand).
  • Prices of Related Goods: A decrease in the price of a substitute good might shift the demand curve for a related good to the left (decreased demand).

Illustrative Example:

Let's say the demand curve for apples shows that at a price of $1 per apple, 100 apples are demanded. If the price increases to $1.50, quantity demanded might fall to 80 apples. This is a movement along the existing demand curve, representing a change in quantity demanded. However, if a new study reveals that apples are exceptionally healthy, this would increase overall demand at all price points, shifting the entire demand curve to the right. At the original $1 price, demand might now be 150 apples.

In Summary:

A change in quantity demanded is represented by a movement along the demand curve, reflecting the direct relationship between price and quantity demanded, holding all else constant. A change in demand, however, is a shift of the entire curve resulting from changes in factors other than price. Understanding this distinction is crucial for grasping fundamental economic principles. This clarifies the answer provided by resources such as CrosswordFiend, adding depth and practical application to the concept.