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Questions
What is meant by an increase in demand?
When does an 'increase' in demand take place?
Explain increase in Demand.
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Solution
Increased demand is a rise in commodity demand that results from a factor other than the item's price. More quantity is demanded at the same price.
RELATED QUESTIONS
What is meant by the contraction in demand?
What is meant by an increase in demand?
If Coke and Fanta are close substitutes to each other, a rise in price of Coke will lead to ______ for Fanta.
With the help of a graph explain the increase in demand concept.
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Give two factors responsible for the shift of the demand curve to the right.
