Question

What is the distinction bw increase in demand and expansion of demand

Answer 1

expansion 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.

Answer 2

Answer:

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.

Extension of demand is studied on the assumption that other determinants of demand (other than own price of the commodity) are constant while Increase in demand is studied on the assumption that own price of the commodity is constant.

Extension of demand leads to downward movement along the demand curve from left to right while increase in demand leads to forward shift in demand curve.

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