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प्रश्न
What is an expansion of demand?
What is meant by expansion of demand?
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उत्तर
When the quantity demanded of a commodity rises due to a fall in its price, keeping other factors constant, it is called expansion of demand or increase in quantity demanded. Here, a larger quantity is purchased due to the fall in price.
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संबंधित प्रश्न
Differentiate between extension and contraction of demand.
What does a downward movement along the same demand curve indicate?
Define decrease in demand.
Explain the following diagram:
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?
Distinguish between “movement along the demand curve” and shift of a demand curve.
What is meant by an increase in demand?
Define contraction of demand (or decrease in quantity demanded).
With the help of a suitable diagram, explain expansion in demand.
