Economy, asked by prakashswain03657, 9 months ago

When is there possibility of expansion of demand

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Answered by ItzIshu

When the demand increases as a result of price fall, this is known as Expansion of Demand .

In other words, it states that rise in quantity demanded due to reduction in price of commodity, other factors remaining constant.
For Example: Consumers would increase the consumption of pulse in case the prices of pulse decreases.
It leads to a downward movement along the same demand curve.

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Answered by urmilashagun

Answer:-

(i) When the quantity demanded rises due to a decrease in own price of the commodity, keeping other factors constant, it is known as expansion of demand whereas when the quantity demanded rises due to a change in other facotrs other than own price of the commodity it is known as Increase in Demand.

(ii) In expansion of demand, there is a downward movement along the same demand curve whereas the demand curve shifts rightwards in case of Increase in Demand.

(iii) Expansion in demand is caused by a change in price of the commodity where as Increase in Demand is caused by a change in other factors such as increase in price of substitues, increase in income in case of normal goods etc.

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