Question

The change in demand due to change in price only, where other factors remaining constant, it is called
Options
1 Shift in demand
2 Extension of demand
3 Contraction of demand
4 Both extension and contraction​

Answer 1

Explanation:

The change in the quantity demanded can be due to various factors affecting the demand. However, when the quantity demand change is due to the price changes, it is called “Change in Quantity Demanded”. ... When these other factors remain constant, it means that the demand curve remains the same.

Answer 2

Answer:

4. Both the extension and contraction.

Explanation:

• Movement in the demand curve is when the commodity experiences changes in both the quantity demanded and the price, causing the curve to move in a specific direction.
• It also termed as movement along the curve.
• Due to this demand curve will move upward or downward.