Economics Sales and Customer Service

Topics: Supply and demand, Consumer theory, Demand curve Pages: 20 (6027 words) Published: January 16, 2014

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Frequently Asked Questions
A shift in the demand curve is called?
A shift in the demand curve is called?
A change in demand
What is exceptional demand curve?
What is exceptional demand curve?
The curve: the quantity demanded will increase when the price of given product. Why does the demand curve have negative slope?
Why does the demand curve have negative slope?
because quantity is on x axis and price is on y axis and as the price increase the demand decrease What does the market demand curve show?
What does the market demand curve show?
It shows the demand for the product in relation to the price What is a demand curve that is perfectly horizontal?
What is a demand curve that is perfectly horizontal?
It would be referred to as Perfectly Elastic. This suggest that Price and Quantity are less involved if at all.More exactly, goods are only bought and sold at one price; this would occur in a situation with identical products being offered in a market. For example, think of gasoline. Picture two gas stations at an intersection. If one gas station were to raise prices by five or ten cents, most or all of the customers would buy gas from the cheaper station. An increase in the quantity demanded means that a. price has declined and consumers therefore want to purchase more of the product. b. the demand curve has shifted to the right? An increase in the quantity demanded means that a. price has declined and consumers therefore want to purchase more of the product. b. the demand curve has shifted to the right? a) price declined. QD as opposed to Just demand refers to movement along the demand curve What is rectangular hyperbola demand curve?

What is rectangular hyperbola demand curve?
This is the curve which shows the unitary elastic demand where the change in quantity demanded equals with the change in price. Explain the shape of the demand curve?
Explain the shape of the demand curve?
It is a slope that goes downwards from left to right.
Which of the following is located at the point where the supply and demand curves intersect? Which of the following is located at the point where the supply and demand curves intersect? The equilibrium price.

In which direction does the demand curve on a graph slant?
In which direction does the demand curve on a graph slant?
Downward left to right
The nondiscriminating pure monopolist's demand curve is the industry demand curve.? The nondiscriminating pure monopolist's demand curve is the industry demand curve.? yes
What happens to the demand curve when determinants change?
What happens to the demand curve when determinants change?
A change in any one or more of these determinants of supply, or supply shifters, will move the supply curve for a product either right or left. What dose it mean a products demand curve shifts to the right? What dose it mean a products demand curve shifts to the right? an increase in quantity demanded.

How is the law of demand related to the demand curve?
How is the law of demand related to the demand curve?
Law of demand is the reason of the downward sloping of demand curve.Law of demand states the inverse relationship of demand of a commodity and it's price,and demand curve represents this inverse relationship of demand and price.So in this way they both are related. Explain movement along the Demand curve versus a shift of the Demand curve? Explain movement along the Demand curve versus a shift of the Demand curve?...
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