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What are the effects of change in quantity demand and change in demand?

Asked by Topperlearning User 25th April 2016, 10:55 AM
Answered by Expert
Answer:

Change in quantity demanded:

  • Movements along the demand curve
  • Extension of demand caused by decrease in price of the same good
  • Contraction of demand caused by increase in price of the same good.

Change in demand:

  • Shifts in the demand curve
  • Decrease in demand or backward shift in demand curve caused by change in factors other than price of the good 
  • Increase in demand or forward shift in demand curve caused by change in factors other than price of the good
Answered by Expert 25th April 2016, 12:55 PM
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