Question

To an economist, an increase in demand means the same thing as an increase in quantity demanded.

a. True
b. False

Answer 1

This is false. An increase in demand is more major than an increase in quantity demanded. Quantity demand refers to the demand of a product at a particular price and is only a movement on the demand curve. An increase in demand would cause the demand curve to shift which is more major than a movement and it encompasses the entire relationship between price and demand.