O'Reilly logo

The Complete Idiot's Guide to Economics, 2nd Edition by Tom Gorman

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Back to the Curve

A change in overall demand represents a shift in demand, upward or downward. That means that one or more of the factors I just discussed can cause the entire demand curve to shift to the right (upward) or to the left (downward), as shown in Figure 4.2 (on the next page).
A shift in demand is different from a change in the quantity demanded because of a change in the price. If the supermarket chain lowers the price of beef from $8 to $6 and sees its sales increase from 40,000 to 60,000 pounds, the price change caused a change in the quantity demanded. That change represents movement along the demand curve—that is, along the curve D, the middle curve of the three curves in Figure 4.2.
A shift in demand occurs when the whole ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required