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Distinguish between expansion in demand and …

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Distinguish between expansion in demand and increase in demand

Posted by Abhishek Kumar 7 years, 8 months ago

CBSE > Class 12 > Economics

1 answers

Somya Maheshwari 7 years, 8 months ago

If price of a commodity decreases , then it's demand increases / expands , provided that other factors remain constant. Hence demand is said to be expanded. On the other hand , If demand of a commodity increases due to other factors such as income of the consumer(Y) , Expectation (E) etc. , provided that price of the commodity remains constant. Thus, then Demand is said to be increased.

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