distinguish between extension and increase in demand in points a
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Extension in demand ✨
➡️ Extension of demand refers to increase in quantity demanded to decrease in own price of the commodity .
➡️ Extension of demand is studied on the adoption that other determinants of demand (other than own price of the commodity )are constant .
➡️ Extension Of demand leads to downward movement along the demand curve from left to right .
Increases in demand ✨
➡️ Increases In demand refers to increase in quantity demand even when own price of the commodity is constant .
➡️ Increases In demand is studied on the assumption that own price of the commodity is constant .
➡️Increase in demand leads to forward shift in demand curve .
Extension in demand ✨
➡️ Extension of demand refers to increase in quantity demanded to decrease in own price of the commodity .
➡️ Extension of demand is studied on the adoption that other determinants of demand (other than own price of the commodity )are constant .
➡️ Extension Of demand leads to downward movement along the demand curve from left to right .
Increases in demand ✨
➡️ Increases In demand refers to increase in quantity demand even when own price of the commodity is constant .
➡️ Increases In demand is studied on the assumption that own price of the commodity is constant .
➡️Increase in demand leads to forward shift in demand curve .
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