8
QuizMultiple Choice
The Law of Demand
Question 8 of 10 • EAP-Economics and Personal Finance B
The graph shows a demand curve.The graph shows the demand curve shifting from D (orange) to D₁ (blue), with the new curve located to the left of the original curve.Which statement best explains this change?
Answer
A
A decrease in quantity demanded caused by an increase in the product's price.B
A decrease in demand caused by a fall in income or a fall in the price of a substitue good.C
An increase in demand caused by higher consumer income.D
A movement along the demand curve caused by a price change.