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प्रश्न
With the help of a suitable diagram, explain expansion in demand.
उत्तर
When the demand for a commodity rises due to a fall in its price, it is called expansion in demand.
Diagrammatic Explanation: In the diagram, when price falls from OP to OP1, demand expands from OQ to OQ1.
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संबंधित प्रश्न
Differentiate between extension and contraction of demand.
What is an expansion of demand?
Give two reasons for the shift of the demand curve towards the left.
Distinguish between 'movement along the demand curve' and shift of a demand curve.
What is meant by an increase in demand?
Define contraction of demand (or decrease in quantity demanded).
What does a rightward shift of demand curve indicate?
Explain the following diagram.
State whether the following statement is true or false. Give reasons.
A change in quantity demanded as a result of price change will imply a 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.
