SS2 First Term Economics Senior Secondary School
Change in Quantity Demanded
A change in quantity demanded is a movement along a/single demand curve.
The main determinant of a change in the quantity of a commodity demanded is
the price of the commodity under consideration, other factors affecting (e.g.
income, taste of consumers, population, season and festival) demand remain
constant. The quantity of a commodity demanded changes with price.
More is purchased at a lower price than at a higher price.
A change in the quantity demanded is of two types.
1. Increase in the quantity demanded: There is an increase in the quantity
demanded if the quantity purchased increases as a result of a decrease in
the price of the commodity.
GRAPH SPACE
From the above graph a decrease in price from #100 to #80 led to
increase in quantity demanded from 40 to 60 units
, 2. Decrease in the quantity demanded: There is a decrease in the quantity
demanded if the quantity of the commodity purchase decreases as a result
of an increase in price.
From the above graph as increase in the price of the commodity from #10
to #40 brought about a decrease in the quantity bought from 70 to 30 units
Changes in Demand or Shifts in Demand curve
This is a complete shift of demand curve to the right or left.
There is a change in demand of the demand curve shifts to an entirely new
position.
This is a completely new demand Schedule and demand curve, showing that at
the old price, more or less of the commodity would be purchased.
A shift or change in demand is determined by other factors affecting demand
e.g. change in taste and fashion, changes in population size, etc. while of price
of the commodity remain the same
Change in Quantity Demanded
A change in quantity demanded is a movement along a/single demand curve.
The main determinant of a change in the quantity of a commodity demanded is
the price of the commodity under consideration, other factors affecting (e.g.
income, taste of consumers, population, season and festival) demand remain
constant. The quantity of a commodity demanded changes with price.
More is purchased at a lower price than at a higher price.
A change in the quantity demanded is of two types.
1. Increase in the quantity demanded: There is an increase in the quantity
demanded if the quantity purchased increases as a result of a decrease in
the price of the commodity.
GRAPH SPACE
From the above graph a decrease in price from #100 to #80 led to
increase in quantity demanded from 40 to 60 units
, 2. Decrease in the quantity demanded: There is a decrease in the quantity
demanded if the quantity of the commodity purchase decreases as a result
of an increase in price.
From the above graph as increase in the price of the commodity from #10
to #40 brought about a decrease in the quantity bought from 70 to 30 units
Changes in Demand or Shifts in Demand curve
This is a complete shift of demand curve to the right or left.
There is a change in demand of the demand curve shifts to an entirely new
position.
This is a completely new demand Schedule and demand curve, showing that at
the old price, more or less of the commodity would be purchased.
A shift or change in demand is determined by other factors affecting demand
e.g. change in taste and fashion, changes in population size, etc. while of price
of the commodity remain the same
