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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
What is meant by an increase in demand?
With the help of a graph explain the increase in demand concept.
Differentiate between extension and contraction of demand.
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?
There are train and bus services between New Delhi and Jaipur. Suppose the train fare between the two cities comes down. How will this affect the demand curve for bus travel between the two cities?
Distinguish between 'movement along the demand curve' and shift of a demand curve.
The following table shows a change in the demand. Read the table carefully and answer the question that follows:
| Case I | Case II | ||
| Price (₹) | Quantity | Price (₹) | Quantity |
| 10 | 20 | 10 | 20 |
| 10 | 10 | 5 | 20 |
What type of change is it, decrease in demand or contraction in demand? Give a reason.
Explain the following diagram.
