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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.
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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 a downward movement along the same demand curve indicate?
Explain the following diagram:
What is meant by an increase in demand?
Define contraction of demand (or decrease in quantity demanded).
What causes a downward movement along a demand curve?
What does a rightward shift of demand curve indicate?
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.
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.
