Advertisements
Advertisements
प्रश्न
With the help of a suitable diagram, distinguish between a change in quantity demanded and a change in demand.
Differentiate between change in quantity demanded and change in demand.
उत्तर
| Change in quantity demanded | Change in demand | ||
| (i) | It consists of the extension of demand and the contraction of demand. | (i) | It consists of an increase in demand and a decrease in demand. |
| (ii) | Other things being equal, when there is a change in the price there of a good, the resulting change in demand is defined as a change in quantity demanded. | (ii) | When demand changes on account of the factors other than change in price, this is called as change in demand. |
| (iii) | The change in quantity demanded is shown on the same or original demand curve. | (iii) | The change in demand is shown on the different demand curves. |
| (iv) | Extention of demand |
(iv) | Increase in demand |
| (v) | Contraction in demand |
(v) | Decrease in demand |
संबंधित प्रश्न
What is meant by the contraction in demand?
If Coke and Fanta are close substitutes to each other, a rise in price of Coke will lead to ______ for Fanta.
What does an upward movement along the same demand curve indicate?
When the demand curve of a product shifts to the right, it represents a situation of ______.
What is an expansion of demand?
What is a decrease in demand?
Explain the following diagram:
With the help of a suitable diagram, explain expansion in demand.
Give two factors responsible for the shift of the demand curve to the right.
State whether the following statement is true or false. Give reasons.
Contraction of demand is the result of a decrease in the number of consumers.
