Economics - 0455 CIE

Demand (continued)

Gbogbo ọrọ náà

A demand curve can change in two completely different ways, and examiners love to see whether you can tell them apart. Sometimes you slide along the same curve; other times the whole curve jumps to a new position. Mixing these up is one of the most common and costly mistakes in the subject.

In this lesson you will learn the precise difference between a movement along a demand curve and a shift of the curve, what causes each, and how to draw both. Master this and you can explain why prices and quantities change in any market, from coffee to smartphones.

Ebumnobi

  1. causes of extensions and contractions in demand
  2. diagrams that illustrate movements along a demand curve
  3. causes of decreases and increases in demand
  4. diagrams that illustrate shifts of a demand curve

Nkuzi Olu

Gee ntị na nkuzi a na ngwa

Maapụ uche

E seela isiokwu a ka ị hụ otu echiche si ejikọta.

Mepee maapụ uche na ngwa

Kaadị ncheta

Omume ncheta ngwa ngwa n'ihe a na-anwale n'isiokwu a.

Mee omume kaadị ndị a na ngwa

Akwụkwọ Ọmụmụ

Demand is never fixed. The whole point of markets is that demand responds to events: a price cut, a heatwave, a pay rise, a health scare. Being able to separate a change caused by the good's own price from a change caused by something else is the single most tested skill in the demand topic, and it underpins everything from elasticity to government policy.

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Nnyocha Ọmụmụ

Ekele diri gi maka imecha ihe karịrị na Demand (continued). Ugbu a na ị na-enyochakwa isi echiche na echiche ndị dị mkpa, ọ bụ oge iji nwalee ihe ị ma. Ngwa a na-enye ụdị ajụjụ ọmụmụ dị iche iche emebere iji kwado nghọta gị wee nyere gị aka ịmata otú ị ghọtara ihe ndị a kụziri.

Ị ga-ahụ ngwakọta nke ụdị ajụjụ dị iche iche, gụnyere ajụjụ chọrọ ịhọrọ otu n’ime ọtụtụ azịza, ajụjụ chọrọ mkpirisi azịza, na ajụjụ ede ede. A na-arụpụta ajụjụ ọ bụla nke ọma iji nwalee akụkụ dị iche iche nke ihe ọmụma gị na nkà nke ịtụgharị uche.

Jiri akụkụ a nke nyocha ka ohere iji kụziere ihe ị matara banyere isiokwu ahụ ma chọpụta ebe ọ bụla ị nwere ike ịchọ ọmụmụ ihe ọzọ. Ekwela ka nsogbu ọ bụla ị na-eche ihu mee ka ị daa mba; kama, lee ha anya dị ka ohere maka ịzụlite onwe gị na imeziwanye.

  1. A fall in the price of a good itself causes: A. a leftward shift of the demand curve B. an extension of demand (movement down the curve) C. a decrease in demand D. a rightward shift of the demand curve Answer: B
  2. Which of the following shifts the demand curve for a good to the right? A. a rise in the good's own price B. a rise in income, for a normal good C. a fall in the good's own price D. a fall in the population Answer: B
  3. A rise in the price of a substitute will: A. decrease demand for the good B. cause a contraction of demand C. increase demand for the good (shift right) D. have no effect Answer: C
  4. A movement up a demand curve to a smaller quantity is called: A. an increase in demand B. a contraction of demand C. a decrease in demand D. a shift of the curve Answer: B
  5. A rise in the price of petrol reduces demand for large petrol cars because they are: A. substitutes B. inferior goods C. complements D. free goods Answer: C

Rue ajuju ndi a n'ime ngwa ahu

Rue ajuju ndi a n'ime ngwa ahu

Meecha Ajụjụ Ule Ọmarịcha

Ị chọrọ ime ajụjụ ule ọmarịcha gbasara Demand (continued)? Budata ngwa Green Bridge CBT iji nweta ajụjụ ule ọmarịcha na nyocha zuru ezu gbasara isiokwu a.

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