Economy, asked by kshitijjain17kj, 1 year ago

DISTINGUISH BETWEEN EXPANSION AND INCREASE IN DEMAND ( microeconomics). 6 marks

Answers

Answered by smartnessGuru

Difference between extension of demand and increase in demand. Extension of demand refers to increase in quantity demanded due to decrease in own price of the commodity while increase in demand refers to increase in quantity demanded even when own price of the commodity is constant.

kshitijjain17kj: THIS IS NOT SUFFICIENT FOR A 6 MARK ANSWER

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