Demand vs Quantity Demanded | Think Econ
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- Опубликовано: 12 сен 2024
- In economics, the difference between demand and quantity demand is often confusing when you're first learning it. This video aims to simplify the difference!
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This video is so concise and right to the point! Love it
This is more easy to understand than my instructor taught us.
I'm glad to hear that!
Hi there! This is very useful but I have a question: When there is a change in demand, wouldn't there also be a change in quantity demanded?
Yes and no. You’ve asked a great question. Think of it like this: a change in demand means the entire demand curve has moved. Since quantity demanded is looking at a specific point on the demand curve, if you move the demand curve, all of the points on that curve will move with it. HOWEVER, you can have two completely different demand curves which both have a point where the quantity demanded is the same value, so you cannot say that a change in demand equates to a change in quantity demanded, because that isn’t necessarily true.
Does this help?
Useful
Glad to hear it!
Your videos are helping me A LOT. Thank you
You’re very welcome!
thanks for help
You're welcome!
What shifts the demand curve upwards?
Great question!
So what you're referring to is actually a rightward shift. There's 5 "shift factors" for the demand curve.
Here's a link to the video we made on it: ruclips.net/video/i2qiTxlpw2A/видео.html
Let me know if this clears up your question! :)
Ｐ𝐫Ｏ𝕞Ｏ𝓢ｍ ☺️