Question

1. A Black Friday sale (price discount) on iPhones will cause movement on the demand curve to the right.

Answer 1

Ans: True

Explanation:

Any change in own price of a good leads to change in quantity demanded of the good. The change in quantity demanded of a good is represented by a movement along the demand curve.

On the other hand, any change in the factors other than own price leads to change in demand for the good. The change in demand is represented by a shift in the demand curve.

So, a price discount on iPhones will cause movement on the demand curve to the right.

Thus, the statement is true.