The difference between a movement and a shift in the demand curve lies in the causing factors. The first occurs due to changes in its price. The second occurs due to changes in non-price factors such as consumer income, future price
A downward-sloping demand curve holds true in most of our day-to-day cases. It shows a negative relationship between price and quantity demanded. It complies with the law of demand. By the law of demand, a higher price lowers consumers'
The law of diminishing marginal utility states that marginal utility decreases when you consume one more good. Marginal utility is a measure of the extra satisfaction (benefit or utility) you get when you add another consumption of goods or
What's it: A demand curve is a two-dimensional graphical representation to illustrate the relationship between quantity demanded and price. It uses price as the Y-axis and quantity as the X-axis. The curve shows the quantity