Answer to Question #322734 in Microeconomics for Nii

Question

What does a rightward shift in the demand curve mean?

Answer 1

Fig 1: rightward shift in the demand curve

(Source: (Dean et al, 2020)

rightward shift in the demand curve indicates an increase in demand for a certain good due to a change in the factors other than the price of the good (Dean et al, 2020). Other than price, these factors could be as a result of increasing in the income of a consumer, increase in the total number of consumers, an increase in the price of substitute goods, etc.

Reference

Dean, E., Elardo, J., Green, M., Wilson, B., & Berger, S. (2020). Shifts in Demand and Supply for Goods and Services. Principles of Economics: Scarcity and Social Provisioning (2nd Ed.).