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emmasim [6.3K]
3 years ago
14

explain the difference between a change in quantity demanded and a change in demand. Provide a real world example of a factor th

at would cause change.

Business
1 answer:
Zina [86]3 years ago
6 0

Answer:

A change in quantity demanded is caused by a change in price only. That is, when price rises quantity demanded falls vise versa

A change in demand occurs when there is a shift in the demand caused by a change in other determinates of demand other than price such as change in income, change in taste and fashion, demographic changes etc.

Explanation:

Real word example of change in demand :

Changing Tastes or Preferences

From 1990 to 2020, the per-person consumption of chicken by Americans rose from 48 pounds per year to 85 pounds per year, and consumption of beef fell from 77 pounds per year to 54 pounds per year, according to the U.S. Department of Agriculture (USDA). Changes like these are largely due to movements in taste, which change the quantity of a good demanded at every price: that is, they shift the demand curve for that good, rightward for chicken and leftward for beef.

Simply put it this way> Change in quantity demanded : Price change, quantity demanded change

Change in Demand: Price doesn't change but quantity demanded changes as a result of change in other determinates of demand examples the change in preference

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Answer:

Explanation:

A training program that teaches people how to locate, maintain, preserve, and make long-term records usable for documentation, legal, analysis, and other purposes.

5 0
2 years ago
Zinc, Inc. has 10,000 shares of $5 par, 5% preferred stock, and 5,000 shares of $10 par common stock issued and outstanding. If
Anna11 [10]

Answer:

A. 2500

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8 0
3 years ago
Suppose that preferences over private consumption C and public goods G are such that these two goods are perfect substitutes, th
Temka [501]

Answer:

Please see explanation below.

Explanation:

Public goods are goods consumed collectively, they are provided for all members of a community,

no one can be excluded from their consumption. The consumption by one person does not decrease the consumption possibilities for others. Public goods are available for everybody without paying, and these goods cannot be rationed: they are either provided for the whole community, or for no one. Examples of public goods include the public lighting system, public roads, radio broadcasts, national defence, lighthouses, town pavements, etc.

Private goods, on the other hand, are goods consumed individually, and if a unit has been consumed by

someone, then no one else can also consume the same unit. Private goods are scarcely available, and consuming a unit will decrease the amount available for further consumption. Therefore consumers compete for private goods, i.e. private goods are rival in consumption. Consumers can consume them if they pay the price, non-payers are excluded from consumption.

In the first scenario, given that both the private good and public good are perfect substitutes, the optimum quantity produced by the government is at the point where marginal social cost is equal to the marginal social benefit. This optimum output is lower than that of the private firm because the price of public good is higher than price of private good (since marginal social cost > marginal private cost).

If b increases, that means consumers are willing to give up more units of public goods for one unit of the private good. Therefore, the quantity produced by the government will reduce.

For the second part of the question: C = aG, where a > 0.

This implies that equal or more units of the private good is consumed with a particular units of public good. The optimum output still remain at the point where marginal social cost is equal to marginal social benefit but this output level is lower than if the two goods were to be perfect substitutes.

7 0
3 years ago
When you begin working, you will most likely be both a _____ and a _____ in a market economy.
laila [671]
Producer & Consumer should be the correct answer
6 0
3 years ago
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Currently, the yield curve is ascending. A customer believes that the Federal Reserve will start to tighten credit by raising sh
sleet_krkn [62]

Answer:

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3 years ago
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