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प्रश्न
With the help of a suitable diagram, distinguish between a change in quantity demanded and a change in demand.
Differentiate between change in quantity demanded and change in demand.
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उत्तर
| Change in quantity demanded | Change in demand | ||
| (i) | It consists of the extension of demand and the contraction of demand. | (i) | It consists of an increase in demand and a decrease in demand. |
| (ii) | Other things being equal, when there is a change in the price there of a good, the resulting change in demand is defined as a change in quantity demanded. | (ii) | When demand changes on account of the factors other than change in price, this is called as change in demand. |
| (iii) | The change in quantity demanded is shown on the same or original demand curve. | (iii) | The change in demand is shown on the different demand curves. |
| (iv) | Extention of demand |
(iv) | Increase in demand |
| (v) | Contraction in demand |
(v) | Decrease in demand |
संबंधित प्रश्न
As a result of rise in consumer's income, the demand curve for coarse-grain (inferior good) will:
Differentiate between extension and contraction of demand.
What does a downward movement along the same demand curve indicate?
What does an upward movement along the same demand curve indicate?
What is meant by an increase in demand?
Define contraction of demand (or decrease in quantity demanded).
What causes an upward movement along a demand curve?
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.
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.
