{"id":56783,"date":"2024-04-16T00:50:38","date_gmt":"2024-04-16T00:50:38","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=56783"},"modified":"2024-04-16T00:50:38","modified_gmt":"2024-04-16T00:50:38","slug":"match-the-list-i-with-list-ii-and-select-the-correct-answer-list-i-list-ii-a-expansion-in-demand-1-left-to-right-on-the-same-demand-curve-b-contraction-in-demand-2-right-to-left-movement-on-the","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/match-the-list-i-with-list-ii-and-select-the-correct-answer-list-i-list-ii-a-expansion-in-demand-1-left-to-right-on-the-same-demand-curve-b-contraction-in-demand-2-right-to-left-movement-on-the\/","title":{"rendered":"Match the List-I with List-II and select the correct answer. List-I List-II a. Expansion in demand 1. Left to right on the same demand curve. b. Contraction in demand 2. Right to left movement on the same demand curve. c. Increase in demand 3. Rightward shift of the demand curve. d. Decrease in demand 4. Leftward shift of the demand curve."},"content":{"rendered":"<p>[amp_mcq option1=&#8221;a-1, b-2, c-3, d-4&#8243; option2=&#8221;a-1, b-2, c-4, d-3&#8243; option3=&#8221;a-3, b-4, c-1, d-2&#8243; option4=&#8221;a-3, b-4, c-2, d-1&#8243; correct=&#8221;option4&#8243;]<!--more--><\/p>\n<p>The correct answer is: <strong>D. a-3, b-4, c-2, d-1<\/strong><\/p>\n<ul>\n<li><strong>Expansion in demand<\/strong> is a rightward shift of the demand curve. This means that at any given price, consumers are willing and able to buy more of the good.<\/li>\n<li><strong>Contraction in demand<\/strong> is a leftward shift of the demand curve. This means that at any given price, consumers are willing and able to buy less of the good.<\/li>\n<li><strong>Increase in demand<\/strong> is a movement along the demand curve to the right. This means that at the current price, consumers are willing and able to buy more of the good.<\/li>\n<li><strong>Decrease in demand<\/strong> is a movement along the demand curve to the left. This means that at the current price, consumers are willing and able to buy less of the good.<\/li>\n<\/ul>\n<p>Here are some examples of factors that can cause a change in demand:<\/p>\n<ul>\n<li><strong>Changes in income:<\/strong> If people&#8217;s incomes increase, they will typically be able and willing to buy more goods and services. This will lead to an increase in demand.<\/li>\n<li><strong>Changes in the price of related goods:<\/strong> If the price of a substitute good decreases, consumers will be more likely to buy that good instead of the good in question. This will lead to a decrease in demand for the good in question.<\/li>\n<li><strong>Changes in tastes and preferences:<\/strong> If people&#8217;s tastes and preferences change, they may be more or less willing to buy a particular good. This will lead to an increase or decrease in demand, respectively.<\/li>\n<li><strong>Changes in expectations:<\/strong> If people expect the price of a good to increase in the future, they may be more likely to buy it now. This will lead to an increase in demand. Conversely, if people expect the price of a good to decrease in the future, they may be less likely to buy it now. This will lead to a decrease in demand.<\/li>\n<\/ul>\n<p>I hope this helps!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;a-1, b-2, c-3, d-4&#8243; option2=&#8221;a-1, b-2, c-4, d-3&#8243; option3=&#8221;a-3, b-4, c-1, d-2&#8243; option4=&#8221;a-3, b-4, c-2, d-1&#8243; correct=&#8221;option4&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-56783","post","type-post","status-publish","format-standard","hentry","category-economics","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Match the List-I with List-II and select the correct answer. List-I List-II a. Expansion in demand 1. Left to right on the same demand curve. b. Contraction in demand 2. Right to left movement on the same demand curve. c. Increase in demand 3. Rightward shift of the demand curve. d. Decrease in demand 4. Leftward shift of the demand curve.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/match-the-list-i-with-list-ii-and-select-the-correct-answer-list-i-list-ii-a-expansion-in-demand-1-left-to-right-on-the-same-demand-curve-b-contraction-in-demand-2-right-to-left-movement-on-the\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Match the List-I with List-II and select the correct answer. List-I List-II a. Expansion in demand 1. Left to right on the same demand curve. b. Contraction in demand 2. Right to left movement on the same demand curve. c. Increase in demand 3. 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List-I List-II a. Expansion in demand 1. Left to right on the same demand curve. b. Contraction in demand 2. Right to left movement on the same demand curve. c. Increase in demand 3. Rightward shift of the demand curve. d. Decrease in demand 4. Leftward shift of the demand curve.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/match-the-list-i-with-list-ii-and-select-the-correct-answer-list-i-list-ii-a-expansion-in-demand-1-left-to-right-on-the-same-demand-curve-b-contraction-in-demand-2-right-to-left-movement-on-the\/","og_locale":"en_US","og_type":"article","og_title":"Match the List-I with List-II and select the correct answer. List-I List-II a. Expansion in demand 1. Left to right on the same demand curve. b. Contraction in demand 2. Right to left movement on the same demand curve. c. Increase in demand 3. 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