Distinguish between ‘increase in demand’ and increase in quantity demanded of a good.
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Solution
Increase in demand and increase in quantity demanded of a good
Increase in quantity demanded | Increase in demand |
It refers to quantity demanded changes due to change in the price remaining other factors constant. |
It refers to a rise in demand for a commodity because of factors other than the price. |
Factors which cause the increase in quantity demanded
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Factors which cause the increase in demand
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It leads to a movement along the same demand curve either upwards or downwards |
It leads to shifts in the demand curve either rightwards or leftwards. |
Concept: Demand
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