What is Expansion in Demand?
When there is an increase in the quantity demanded of a commodity because of a fall in its price by keeping other factors constant, it is known as an Expansion in Demand. In simple terms, the demand for a commodity rise because of a fall in its price. Expansion in demand results in a downward movement along the same demand curve.
Example:
Difference between Expansion in Demand and Increase in Demand
Expansion in Demand and Increase in Demand are cases of Movement along the same Demand Curve and Shift in Demand Curve respectively.
Table of Content
- What is Expansion in Demand?
- What is Increase in Demand?
- Difference between Expansion in Demand and Increase in Demand
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