Question

If more is demanded at the same price or same quantity at a higher price, this fact of demand is known as ______.

Options

• Extension of demand

• Increase in demand

• Contraction of demand

• Decrease in demand

Answer 1

If more is demanded at the same price or same quantity at a higher price, this fact of demand is known as increase in demand.

Explanation:

Demand increasing at the same price, or remaining unchanged at a higher price, is an increase in demand. It results from a factor other than the good’s own price and shifts the curve rightward.