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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.
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 ______
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State with reason whether you agree or disagree with the following statement :
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State the law of demand.
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The following table shows the amount of sugar bought by a household at different prices:
| Period | Price (₹ per kg) | Amount Bought (kg) |
| Jan. 2000 | ₹ 15 | 4 |
| Feb. 2000 | ₹ 16 | 5 |
Does the behaviour of household contradict the law of demand? Give reasons in support of your answer.
State whether the following statement is true or false. Give reasons.
The law of demand states a direct relationship between price and 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 ?
