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Give Reason Or Explain the Following Statement. Increase in Demand Indicates a Rightward Shift in the Demand Curve. - Economics

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Question

Give reason or explain the following statement.

Increase in demand indicates a rightward shift in the demand curve.

Solution

When the demand for a good increases due to a change in the factors other than the price of the good, it is called increase in demand. Graphically, it is shown by a parallel rightward shift of the demand curve.

Parallel rightward shift shows that even at constant prices the quantity demanded of the good rises.

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APPEARS IN

 Micheal Vaz Solution for Micheal Vaz Class 12 Economics (2019 to Current)
Chapter 3: Demand Analysis
Exercise | Q: 2.2 | Page no. 24
Solution Give Reason Or Explain the Following Statement. Increase in Demand Indicates a Rightward Shift in the Demand Curve. Concept: Demand.
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