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| 1. |
What is differnce between demand and quantity demand |
| Answer» <th>Basis for Comparison</th> <th>Demand</th> <th>Quantity Demanded</th> \t\t\tMeaningDemand is defined as the willingness of buyer and his affordability to pay the price for the economic good or service.Quantity Demanded represents exact quantity (how much) of a good or service is demanded by consumers at a particular price.What is it?It lists out quantities that would be purchased at various prices.It is the actual amount of goods desired at a certain price.ChangeIncrease or decrease in demandExpansion or contraction in demand.ReasonsFactors other than pricePriceMeasurement of changeShift in demand curveMovement along demand curveConsequences of change in actual priceNo change in demand.Change in quantity demanded.\t | |