Advertisements
Advertisements
Question
When the demand curve of a product shifts to the right, it represents a situation of ______.
Options
Increase in demand
Expansion in demand
Decrease in demand
Contraction in demand
Advertisements
Solution
When the demand curve of a product shifts to the right, it represents a situation of increase in demand.
APPEARS IN
RELATED QUESTIONS
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.
Differentiate between extension and contraction of demand.
What does a downward movement along the same demand curve indicate?
There are train and bus services between New Delhi and Jaipur. Suppose the train fare between the two cities comes down. How will this affect the demand curve for bus travel between the two cities?
What is meant by an increase in demand?
Explain the following diagram.
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.
State whether the following statement is true or false. Give reasons.
A change in quantity demanded as a result of price change will imply a shift of the demand curve to the right.
State whether the following statement is true or false. Give reasons.
Contraction of demand is the result of a decrease in the number of consumers.
