Final answer:
Counter-seasonal product demand occurs when the consumer interest in a product intensifies during an atypical period. It is reflected in the demand schedule and can cause a shift in the demand curve, which is different from a movement along the curve due to price changes.
Step-by-step explanation:
Counter-seasonal product demand refers to the situation where demand for certain products increases during a time of the year when it is typically lower, or vice versa. This concept is particularly relevant in business and economics. An example might be increased demand for a specific type of clothing that is usually worn in a different season, like purchasing ski jackets during the summer.
To elaborate, a demand schedule is a table showing a range of prices for a good or service alongside the quantity demanded at each price. When we observe a shift in demand, this can be reflected in the demand schedule. Such a shift occurs when a non-price economic factor changes, causing a different quantity to be demanded at each price point. For instance, if a sudden coffee bean shortage is anticipated, consumers may buy more coffee now, leading to a rightward shift in the demand curve for coffee.
Distinguishing between a shift in the demand or supply curve and a movement along the curve is key. Movement along the curve indicates a change in the quantity demanded or supplied due to a change in price, while a shift signifies a change in demand or supply due to factors other than price.