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
Question : Assertion: Expansion in Demand leads to an upward movement along the same demand curve.
Reason: Upward movement along the same demand curve occurs due to an increase in the price of the given commodity.
Question : Assertion: The same demand curve moves upward in response to an expansion in demand. Reason: A rise in the price of the specified commodity results in an upward movement along the same demand curve.
Question : The demand curve displays an increase in demand when :
Question : Assertion: Shift of demand curve due to change in price. Reason: Price and demand are directly related to the price.
Question : Assertion: If price falls and quantity demanded increases, this is represented by a movement along a given demand curve. Reason: If price falls and quantity demanded increases, this is represented by a shift of the demand curve.
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