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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.
संबंधित प्रश्न
If Coke and Fanta are close substitutes to each other, a rise in price of Coke will lead to ______ for Fanta.
Differentiate between extension and contraction of demand.
What is an expansion of demand?
Define decrease in demand.
Explain the following diagram:
Give two reasons for the shift of the demand curve towards the left.
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?
With the help of a suitable diagram, distinguish between a change in quantity demanded and a change 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.
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.
