Question: The difference between a change in quantity demanded and a change in demand is that a change in a. quantity demanded is caused by a

The difference between a change in quantity demanded and a change in demand is that a change in

a. quantity demanded is caused by a change in a good’s own price, while a change in demand is caused by a change in some other variable, such as income, tastes, or expectations.

b. demand is caused by a change in a good’s own price, while a change in quantity demanded is caused by a change in some other variable, such as income, tastes, or expectations.

c. quantity demanded is a change in the amount people actually buy, while a change in demand is a change in the amount they want to buy.

d. This is a trick question. A change in demand and a change in quantity demanded are the same thing.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Macroeconomics Questions!