Profile
Settings
Refer your friends
Sign out
Answer:
Increase in demand | Decrease in demand |
When more quantity is demanded than before at the same price, it refers to an increase in demand. | When less quantity is demanded than before at the same price, it refers to a decrease in demand. |
An increase in demand is denoted by a shift in the demand curve to the right. | A decrease in demand is denoted by a shift in the demand curve to the left. |
An increase in demand happens when more is purchased at the same price and the same quantity is purchased at a higher price. | A decrease in demand happens when less is purchased at the same price or the same quantity at a lower price. |
An increase in demand is caused by a rise in income, a rise in the price of substitutes, a decrease in the price of complementary goods, an increase in population, and when goods are fashionable. | A drop in demand is caused by a drop in income, a drop in the price of substitutes, an increase in the price of complementary goods, a drop in population, or when goods become out of style. |
.
