When demand increases at given price then it is called ‘increase in demand’. On the other hand, when demand increases by decrease in the price of a commodity then it is called increase in quantity demand.
Distinguish between ‘increase in demand’ and ‘increase in quantity demanded’ of a commodity.
Answers
Kumar
When demand increases at given price then it is called ‘increase in demand’. On the other hand, when demand increases by decrease in the price of a commodity then it is called increase in quantity demand.