Distinguish Between Factors That Cause Shift In Demand And Supply Curves - SS2 Economics Past Questions and Answers - page 1
Which of the following factors can cause a shift in the demand curve?
A change in the price of a substitute good
A change in the price of the product
A change in consumer income
A change in production costs
Which of the following factors can cause a movement along the supply curve?
A change in technology
A change in the number of producers
A change in input prices
A change in the price of the product
An increase in the elderly population can lead to an increase in the demand for which of the following?
Healthcare services
Fast food
Luxury goods
Alcoholic beverages
Which of the following is an example of a government policy that can affect the demand for a product?
A change in technology
A change in consumer preferences
A tax on cigarettes
A change in the price of a substitute good
A change in production costs can cause a movement along which of the following curves?
Demand curve
Supply curve
Both demand and supply curves
None of the above
Which of the following factors can cause a decrease in the demand for a normal good?
An increase in consumer income
A decrease in the price of a complementary good
A change in consumer preferences
An increase in the price of the product
Define a shift in the demand curve.
A shift in the demand curve occurs when there is a change in any non-price determinant of demand, resulting in a new quantity demanded at each price.
What causes a movement along the supply curve?
A change in price or production cost causes a movement along the supply curve, as the quantity supplied changes.