Question

What causes a movement along the demand curve?

What causes a movement along the supply curve?

Short answer

1

Step-by-step solution

Step 1. Define demand and supply.

Demand is an economic theory that refers to a consumer's desire to buy products and services as well as their readiness to pay a price for them.

The total amount of a certain commodity or service available to customers is described by supply, which is a fundamental economic notion.

Step 2. What causes a movement along the demand curve?

Demand is the ability and desire of a consumer to acquire a product or service.

The number of commodities that can be supplied to a market at a given price is known as supply.

The demand curve is a graph that depicts the relationship between prices and the amount demanded at various prices. Because to changes in the prices of commodities, there is movement along the demand curve, which leads in a change in the amount demanded, and vice versa.

Step 3. What causes a movement along the supply curve?

The supply curve is a diagram that depicts the relationship between price and quantity delivered at those prices. Changes in the price of commodities produce changes in the quantity supplied, and vice versa, causing movement along the supply curve.