1.

Distinguish between a change in quantity demanded and a change in demand of a commodity.

Answer» <html><body><p></p>Solution :(i) Change in <a href="https://interviewquestions.tuteehub.com/tag/quantity-1174212" style="font-weight:bold;" target="_blank" title="Click to know more about QUANTITY">QUANTITY</a> demanded is the change in <a href="https://interviewquestions.tuteehub.com/tag/demand-436956" style="font-weight:bold;" target="_blank" title="Click to know more about DEMAND">DEMAND</a> caused by a change in own price of the commodity whereas change in demand <a href="https://interviewquestions.tuteehub.com/tag/refers-1181652" style="font-weight:bold;" target="_blank" title="Click to know more about REFERS">REFERS</a> to change in demand of the commodity caused by a change in other factors affecting the demand for that commodity other than the own price of the commodity.<br/>(<a href="https://interviewquestions.tuteehub.com/tag/ii-1036832" style="font-weight:bold;" target="_blank" title="Click to know more about II">II</a>) Change in quantity demanded leads to a movement along the demand curve whereas change in demand leads to a shift in the demand curve.</body></html>


Discussion

No Comment Found