What is Increase in Demand?
When there is an increase in the quantity demanded of a commodity because of any factor other than the price of the commodity, it is known as an Increase in Demand. In simple terms, the demand for a commodity increases at the same price, because of changes in other factors. Increase in demand results in a rightward shift in the 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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