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प्रश्न
With the help of a suitable diagram, explain expansion in demand.
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उत्तर
When the demand for a commodity rises due to a fall in its price, it is called expansion in demand.
Diagrammatic Explanation: In the diagram, when price falls from OP to OP1, demand expands from OQ to OQ1.
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संबंधित प्रश्न
What is meant by the contraction in demand?
With the help of a graph explain the increase in demand concept.
What does an upward movement along the same demand curve indicate?
What is an expansion of demand?
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?
Distinguish between “movement along the demand curve” and shift of a demand curve.
What is meant by an increase in demand?
What does a rightward shift of demand curve indicate?
Explain the following diagram.
Give two factors responsible for the shift of the demand curve to the right.
