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Economics

If PRICE of any commodity increases then called as EXPANSION and If PRICE OF RELATED COMMODITY increase then EXPANSION or INCREASE ?????

Roshan Zameer

ACCA Professional

★ 24K+

25-Oct-20 12:00

312

Answers (5)

Please share the context - which chapter and in what context

Sriram Somayajula

Admin

25-Oct-20 12:09

In law of demand

Thread Starter

Roshan Zameer

ACCA Professional

★ 24K+

25-Oct-20 12:27

Difference between change quantity demand and change in demand

Thread Starter

Roshan Zameer

ACCA Professional

★ 24K+

25-Oct-20 12:28

Thread Starter

Roshan Zameer

Difference between change quantity demand and change in demand

One is movement along the curve and another is shift of the curve. If there is a change in Qty demanded there will be a change in price i.e movement along the curve. Change in demand is when there is a shift in curve i.e at same price point qty demanded is now more that what it was earlier or less than what it was earlier

Sriram Somayajula

Admin

25-Oct-20 12:33

Increase in demand (so simple)