Change in Quantity Demanded and Change in Demand To do 1 min read 9 min video
Change in Quantity Demanded: This is a situation which is due to a rise or fall in the price of a commodity/service and it is described by a movement along the demand curve for the commodity/service.
Fig. 1: Movement induced by an increase in commodity’s own price
Fig. 2: Movement due to a decrease in commodity’s own price
Change in Demand: This is a situation which is due to a variation in any determinant of demand other than commodity/service own price and it is described by a shift in the demand curve for the commodity or service.
Fig. 3: An increase in demand
Fig. 4: A decrease in demand
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