Question

What is the difference between a change (shift) in demand and a change in the quantity demand? Provide an example. In your example be sure to note one of the specific non price factors that can lead to a change

Answer 1

Explanation: Sure, I can help you with that!

A change in demand refers to a shift in the amount of a good or service that consumers are willing to buy at a given price. This could be due to changes in income levels, tastes and preferences, population growth, or other factors. For example, if there is an increase in the number of people who want to watch a popular TV show, the demand for that show will likely increase as well.

On the other hand, a change in quantity demanded refers to a change in the amount of a good or service that consumers are willing to buy at a given price, but only within a certain range. This could be due to changes in prices of related goods or services, changes in consumer expectations, or other factors.