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प्रश्न
With the help of a graph explain the increase in demand concept.
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उत्तर
Increase in demand refers to a rise in the demand of a commodity at the same price. It is caused by any factor other than the own price of the commodity. It denotes a situation where demand for a commodity increases in the market. It leads to rightward shift of the demand curve. The concept of an increase in demand is illustrated in the below digram.
The above figure shows that when the price of good-X is ₹ 10 per unit, 5 units are demanded. At the same price of ₹ 10, consumers demand 10 units. It may be due to increase in their income or change in tastes in favour of the commodity, or other factors.
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संबंधित प्रश्न
What is an expansion of demand?
Define decrease in demand.
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?
With the help of a suitable diagram, distinguish between a change in quantity demanded and a change in demand.
What is meant by an increase in demand?
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.
With the help of a suitable diagram, explain expansion in demand.
Explain the following diagram.
Give two factors responsible for the shift of the demand curve to the right.
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.
