increase in demand
|
decrease in demand
|
|
1. Meaning: -
Increase
in demand occurs when.
(a) More
quantity is demanded at the same price
(b) Same
quantity (original quantity) is demanded at a higher price.
2.
Reasons: -
It
occurs due to changes in factors such as income, taste, preferences.
Habits of the consumers and
population etc. In favour of the commodity.
3. Shifts of the Demand Curve:-
The demand curve shifts upwards (towards right)
forming a new demand curve d1 d1
|
Decrease in
demand occurs when;
(a) less
quantity is demanded at the same price (original price) and
(b) Same
quantity (original quantity) is demanded at a lower price.
It occurs due
to changes in factors such as income, taste, preferences, habits of the
consumers and population etc. Against the commodity.
The demand curve shifts downwards
(towards left) forming a new demand curve d2 d2
|
INCREASE IN DEMAND DECREASE IN DEMAND
