Question : Which of the statements is true :-
A: Expansion in Demand leads to an upward movement along the same demand curve.
B: Upward movement along the same demand curve occurs due to an increase in the price of the given commodity.
Option 1: Only option A correct
Option 2: Option B is correct
Option 3: Both are correct
Option 4: Both are false
Correct Answer: Option B is correct
Solution :
The quantity demanded decreases as the price of the good rises. It causes the demand curve to incline upward. It is sometimes referred to as demand contraction.
The quantity demanded decreases as the price of the good rises. It causes the demand curve to incline upward. It is sometimes referred to as demand contraction.
Hence option b is correct
