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Improvement in technology calls for?
a. shift the demand curve to the left
b. shift the supply curve to the right
c. shift the supply curve to the left
d. move along the supply curve
An improvement in technology shifts the supply curve outward (to the right) because the cost to produce the good decreases, so they can make more products at a lower cost...
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determinants of demand leads to a movement along the demand curve or a shift in the demand curve.
The determinants lead to a movement along the demand curve since the demand curve displays the link between quantity and price of product in a way one's change impacts another.
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Assume the number of buyers in the market for handsanitisers increases, ceteris paribus. Does this economic event result in a movement along the demand curve or a shift of the demand curve?
It will cause a shift in demand curve. Increase in buyers shifts demand curve to the right.
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What is the difference between a movement along the aggregate demand (AD) curve and a shift of the aggregate demand curve? Explain in terms of what causes a movement and what causes a shift.
Consider what is producing the change to determine whether it is a shift or a movement. It is a movement along the curve if the cause is a change in...
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Demand Review Pack: fill in the <i>blank</i> 1) Demand - the desire, ______, ________, ______ to buy a product. 2) Demand Schedule - listing (table) showing the _______ ________ at each price.
1) Demand - the desire to own the ability to buy a product.2) Demand Schedule - listing (table) showing the quantity demanded at each price.
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Demand Review: fill in the <i>blank</i> 3) Demand Curve - graph showing the ______ ______ at each price. 4) Law of Demand - quantity demand of product varies ( intensely/ directly) with price.
3) quantity demanded 4) directly
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Demand Review: fill in the blank 5) Diminishing marginal utility - states that the ______ ______ we get from additional quantities of the product begins to ______.
Decrease in marginal utility - states that the marginal utility we get from additional quantities of a product begins to diminish.
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Demand Review: (pick one) 17) If consumers expect a shortage of citrus drops due to bad weather, there will be an (increase/decrease) in (D/QD) and demand curve will shift to (right/left).
If consumers expect a shortage of citrus drops due to bad weather, there will be an increase in D and demand curve will shift to right.
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Demand Review: (pick one) 19) Elastic Demand - a change in price cause a (smaller/larger) change in QD. 20) Inelastic Demand- a change in price causes a (smaller/larger) change in QD.
19) Elastic Demand - a change in price cause a (smaller/larger) change in QD.20) Inelastic Demand- a change in price causes a (smaller/larger) change in QD.
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Demand Worksheet: fill in the <i>blank</i> 1) The law of demand states - when price increases, quantity demand will ______. When price decreases, quantity demanded will ______.
The law of demand states - when price increases, quantity demand will decrease.When price decreases, the quantity demanded will increase.
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