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प्रश्न
Distinguish between extension and contraction of demand.
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उत्तर
If the changes in the quantity demanded are due to the change in price alone then it is called extension and contraction of demand. Buying more at a lower price is an extension of demand and less at a higher price is the contraction of demand.
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संबंधित प्रश्न
Briefly explain any two reasons for the occurrence of the law of demand.
Symbolically, the functional relationship between Demand and Price can be expressed as ______.
Find the odd word
Assumptions to law of demand -
The Law of Demand was introduced by ______.
Increase in demand is caused by
The movement on or along the given demand curve is known as ______
State with reason whether you agree or disagree with the following statement :
When price of Giffen goods fall, the demand for it increases.
Any statement about demand for a good is considered complete only when the following is/are mentioned in it:
What is meant by the income effect of a fall in the prices of a commodity?
Identify the correct statement from the following alternatives:
What does the term "ceteris paribus" mean in relation to the Law of Demand?
According to the Law of Demand, what happens when the price of a commodity decreases, assuming no other factors change?
Which of the following is NOT an assumption of the Law of Demand ?
