Question no 3003 SSC CGL Tier 1 Genral Awareness Questions and Answers Online Test 86

SSC CGL Tier 1 :: GA Test 86

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1 .

Movement along the same demand curve is known as ____

[ A ] Extension and Contraction of Demand
[ B ] Increase and Decrease of Demand
[ C ] Contraction of supply
[ D ] Increase of supply

Answer : Option B

Explanation :

A shift in the demand curve is caused by a factor affecting demand other than a change in price. If any of these f actors change then the amount consumers wish to purchase changes whatever the price. The shift in the demand curve is referred to as an increase or decrease in demand. A movement along the demand curve occurs when there is a change in price. This may occur because of a change in supply conditions. The factors affecting demand are assumed to be held constant. A change in price l eads to a moveme nt al ong the demand curve and is referred to as a change in quantity demanded.

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