Sunday, February 5, 2017

Expansion of demand and Increase in demand.


Expansion of Demand
Increase in Demand
(1) When more quantity of a commodity is demanded due to fall in the price it is called expansion in demand.
(1) When more quantity of a commodity is demanded at the same price, it is called increase in demand.
(2) Price falls while condition of demand remain same.
(2) Price remains same while conditions of demand changes which have positive effect on demand.
(3) It can be shown on the same demand curve.
(3) Ne demand curve is necessary to show increase in demand.
(4)
(4)