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Change in quantity demanded and law …

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Change in quantity demanded and law of demand both are the same things. Explain?

    • Posted by Nehal Bhardwaj 6 years, 3 months ago

    CBSE > Class 11 > Economics
    • 1 answers

    Sia ? 6 years, 3 months ago

    Change in quantity demanded and law of demand are different :

    Differences between change in demand and change in quantity demanded are

    Basis Change in Demand Change in quantity Demanded
    Reason It is caused by a change in prices of substitutes,change in prices of complementary goods,change in income, etc. other than the  own price of the commodity. It is caused by an increase or decrease  in the price of the given commodity, keeping other factors constant.
    Impact on demand curve It leads to a shift in the demand curve either rightwards (known as increase in demand)or leftwards(known as decrease in demand). It leads to a movement along the same demand curve either upwards(known as contraction in demand)or downwards(known as expansion in demand)
    Diagrammatic Presentation Diagrammatically, this is shown as a forward or backward shift in demand curve.

         		 Diagrammatically, this is shown as a downward or an upward movement on the same demand curve.

     

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