What is meant by Increase in demand?
1 Answer
When more quantities of a commodity are demanded due to the favourable change in other factors, i.e. income of the consumer, price of related goods, etc. it is referred to as an increase in demand. This results in the demand curve for the commodity shifting rightwards.
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Write the meaning of various concepts of cost. Explain them. 1
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Explain the meaning and nature of total variable cost along with diagram 1
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Explain the meaning and nature of total cost along with diagram 1
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Differences between total fixed cost and total variable cost 1
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Differences between a Movement along and Shift in the Demand curve. 1
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Differences between Movement along a supply curve and shift in the supply curve 1