Sarthaks Test
0 votes
164 views
in Economics by (63.5k points)

Differentiate between change in demand and change in quantity demanded.

1 Answer

+1 vote
by (68.8k points)
selected by
 
Best answer

Change in demand or Shift of the demand curve: 

(i) This happens when at the same price more or less is demanded. 

(ii) Other factors affecting demand change causing a right or leftward shift of the demand curve.

(iii) It is of two types - increase in demand (rightward shift) and decrease in demand (leftward shift). 

Change in Quantity demanded

Change in quantity demanded or movement along the demand curve: 

(i) This happens, when at a lower(higher) price, more(less) is demanded. 

(ii) Other factors affecting demand remain constant. 

(iii) It is of two types – expansion(downward movement along a demand curve and contraction of demand (upward movement along a demand curve).

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...