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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?
What is meant by an increase in demand?
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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.
