A movement along the same demand curve either upwards or downwards as a result of change in price implies
Answer Details
A movement along the same demand curve either upwards or downwards as a result of a change in price implies a change in quantity demanded. This means that the quantity of the good or service demanded by consumers has changed in response to a change in price, but all other factors, such as consumer income and preferences, have remained constant. As the price of a good or service increases, the quantity demanded generally decreases, and vice versa. This relationship between price and quantity demanded is known as the law of demand. It is important to note that a change in demand, which would result in a shift of the demand curve to the left or right, is caused by factors other than the price of the good or service, such as changes in consumer income or preferences.