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प्रश्न
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.
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उत्तर
This statement is false.
Explanation:
An “increase in demand” is a rise in consumer purchasing due to favourable changes in non-price factors, such as a growth in consumer income, a change in tastes and preferences, or an increase in the price of a substitute goods. Graphically, this shifts the entire demand curve to the right.
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संबंधित प्रश्न
What does a downward movement along the same demand curve indicate?
What does an upward movement along the same demand curve indicate?
When the demand curve of a product shifts to the right, it represents a situation of ______.
What is an expansion of demand?
Define decrease in demand.
What is meant by an increase in demand?
What causes an upward movement along a demand curve?
With the help of a suitable diagram, explain expansion in demand.
State whether the following statement is true or false. Give reasons.
A change in quantity demanded as a result of price change will imply a shift of the demand curve to the right.
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.
