Differentiate between a change in quantity demanded and change in demand.
A change in quantity demanded refers to a change in the specific quantity of a product that buyers are willing and able to buy due to a change in the price.
A change in demand describes a shift in consumer desire to purchase a particular good or service, irrespective of a variation in its price. The change could be triggered by a shift in income levels, consumer tastes, or a different price being charged for a related product.
CATEGORIES Economics
TAGS Dr. Bbosa Science