Question
Distinguish between change in demand and change in quantity demanded.
✓
Answer
Differences between change in demand and change in quantity demanded are:
|
S. No.
|
Basis
|
Change in demand
|
Change in quantity demanded
|
|
1.
|
Factors
|
This is caused by change in determinants, other than own price of the commodity.
|
This is caused by change in own price of the commodity, other factors remaining constant.
|
|
2.
|
Effect
|
This happens when at the same price, more or less is being demanded.
|
This happens when at a lower price, more is being demanded or at a higher price, less is being demanded.
|
|
3.
|
Change in curve
|
Diagrammatically, this is shown as a forward or backward shift in demand curve.
|
Diagrammatically, this is shown as a downward or an upward movement on the same demand curve.
|
|
4.
|
Graph
|
 |
 |
Need a full question paper?
Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.
Explore more
Similar questions
What is producer's equilibrium? Explain the conditions of producer's equilibrium through the 'marginal cost and marginal revenue' approach. Use diagram.
Explain the conditions of consumer's equilibrium under utility analysis.
OR
Explain the conditions of consumer's equilibrium using marginal utility analysis.
OR
A consumer consumes only two goods $X$ and $Y.$ Explain the conditions of consumer's equilibrium using utility analysis.
→OR
Explain the conditions of consumer's equilibrium using marginal utility analysis.
OR
A consumer consumes only two goods $X$ and $Y.$ Explain the conditions of consumer's equilibrium using utility analysis.
Explain that area under marginal bar cost (MC) is total variable cost (TVC).
From the data given below, calculate Karl Pearson’s coefficient of correlation between density of population and death rate by step deviation method.
| Region | Area(in sq km) | Population | Death |
| A | 200 | 40000 | 480 |
| B | 150 | 75000 | 1200 |
| C | 120 | 72000 | 80 |
| D | 80 | 20000 | 280 |
Distinguish between change in quantity supplied and change in supply. Use diagram.
A consumer consumes only two goods $X$ and $Y$ whose prices are Rs. $4$ and Rs. $5$ per unit respectively. If the consumer chooses a combination of the two goods with marginal utility of $X$ equal to $5$ and that of $Y$ equal to $4$, is the consumer in equilibrium? Give reasons. What will a rational consumer do in this situation? Use utility analysis.
→Explain why will a producer not be in equilibrium if the conditions of equilibrium are not met.
Make a difference between perfect competition, monopoly and monopolistic competition.
What are the characteristics of a perfectly competitive market?
Discuss the central problems of an economy.