B: Look at the table below which refers to the market for taxi journeys: Change Shift/Movement along and explanation A rise in the price of bus journeys   A desire by consumers for more convenient journeys   An increase in average real incomes of citizens

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter4: Demand, Supply, And Market Equilibrium
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B: Look at the table below which refers to the market for taxi journeys:

Change

Shift/Movement along and explanation

A rise in the price of bus journeys

 

A desire by consumers for more convenient journeys

 

An increase in average real incomes of citizens

 

A decision by local government to cut night bus services

 

An increase in the number of people attending a town’s night-time theatre performances

 

In the right-hand column, state whether the change will cause a shift or a movement along the demand curve for taxi journeys and briefly explain why.

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