"Using the theoretical concepts in the Supply and Demand model select which of the following statements about the market for chicken describes a change in the quantity demanded and which describes a change in demand?
I People are buying less chicken because the price of beef has fallen.
II People are buying less chicken because the price of chicken has increased.
III People are buying more chicken because the price of chicken has fallen.
IV The cost of chicken feed has increased"

Explanation: The change in quantity demanded is otherwise known as the movement along the demand curve, it is an increase or decrease in the quantity demanded of a commodity as a result of rise or fall in price. change in the quantity demanded of a commodity is affected only by price,while all other factors affecting demand remain constant.

Change in demand is when various quantity of goods are demanded at a particular price.change in demand is affected by all other factors affecting demand except price.in other words,all other factors affecting demand will bring about an increase or decrease in the quantity of goods demanded. A change in demand will cause the demand curve to shift either to the right or to the left.

genan genan · Answer 2 · 2022-06-03T04:18:08+02:00

Answer:

I is a change in demand and II and III are changes in the quantity demanded.

Explanation:

A change in demand is a change in the quantity that people plan to buy when any influence on buying plans other than the price of the good changes. Statement I describes such a change.

A change in the quantity demanded is a change in the quantity of a good that people plan to buy that results from a change in the price of the good with all other influences on buying plans remaining the same. Statements II and III describe such a change.