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A Demand Analysis — Economics STD 12 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsEconomicsA Demand Analysis2 Marks
Question
Whenever there is decrease in price of gold, demand for gold rises.
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Answer

Concept : Expansion or Extension of Demand
Explanation : Expansion of Demand refers to rise in quantity demanded due to fall in price alone while other factors like tastes, income, etc., remain unchanged.
There is general tendency of consumer to buy more whenever price falls.
Gold is most preferred investment of general public thus it is most demanded with fall in price.

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