Advertisements
Advertisements
Question
Give two factors responsible for the shift of the demand curve to the right.
Solution
- Increase in consumer's income
- Prices to increase in future
APPEARS IN
RELATED QUESTIONS
If Coke and Fanta are close substitutes to each other, a rise in price of Coke will lead to ______ for Fanta.
What does a downward movement along the same demand curve indicate?
Explain the following diagram:
Give two reasons for the shift of the demand curve towards the left.
In order to encourage tourism in Goa, Government of India suggests Indian Airlines to reduce air fares to Goa from four major cities: Chennai, Kolkata, Mumbai and New Delhi. If the Indian Airlines reduces the air fare to Goa, how will this affect the market demand curve for air travel to Goa?
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?
With the help of a suitable diagram, distinguish between a change in quantity demanded and a change in demand.
What is meant by an increase in demand?
With the help of a suitable diagram, explain expansion in demand.
State whether the following statement is true or false. Give reasons.
An increase in the demand for a commodity is due to a fall in its price.
