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Which among the following factor does not lead to a shift in the demand curve?

Which among the following factor does not lead to a shift in the demand curve? Correct Answer Price of the product

The correct answer is the Price of the product.

Key Points

  • Demand is an economic principle referring to a consumer's desire to purchase goods and services and willingness to pay a price for a specific good or service.
  • A demand curve is a graphic representation of the relationship between product price and the quantity of the product demanded.
  • The price of the product does not lead to a shift in the demand curve.
  • Income is not the only factor that causes a shift in demand.
  • The other things that change demand include tastes and preferences, the composition or size of the population, the prices of related goods, and even expectations.
  • A shift in the demand curve is when a determinant of demand other than price changes.
  • It occurs when demand for goods and services changes even though the price didn't.

Important Points

  • A shift in the demand curve is an unusual circumstance when the opposite occurs.
  • The price remains the same but at least one of the other five determinants change.
  • Those determinants are: 
    • ​Income of the buyer.
    • Consumer trends and tastes.
    • Expectations of future price, supply, needs, etc.
    • The price of related goods.
    • The number of potential buyers.

Additional Information

  • Factors That Cause a Demand Curve to Shift: 
    • ​When the demand curve shifts, it changes the amount purchased at every price point.
    • For example, when incomes rise, people can buy more of everything they want.
    • In the short-term, the price will remain the same and the quantity sold will increase.

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