An increase in the price of a product will cause the demand curve to shift to right or left

1 answer

An increase in the price of a product typically causes a movement along the demand curve rather than a shift of the curve itself. When the price of a product rises, the quantity demanded generally decreases, leading to a movement upwards along the demand curve. Conversely, if the price decreases, the quantity demanded usually increases, resulting in a downward movement along the demand curve.

A shift of the demand curve to the right (an increase in demand) or to the left (a decrease in demand) occurs due to other factors, such as changes in consumer preferences, income levels, the prices of related goods (substitutes or complements), or other external factors affecting demand.