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<h2><strong>Change in Quantity Demanded:</strong></h2>
<p>This is a situation which is due to a rise or fall in the price of a commodity/service and it is described by a movement along the demand curve for the commodity/service.</p>
<h3><strong>Fig. 1: Movement induced by an increase in commodity’s own price</strong></h3>
<p><img alt="" class="alignnone size-full wp-image-405215" height="387" src="https://data.ulearngo.com/assets/6541a52c-737d-4b63-bb8e-e2d4f15ef969" width="800"/></p>
<h3><strong>Fig. 2: Movement due to a decrease in commodity’s own price</strong></h3>
<p><img alt="" class="alignnone size-full wp-image-405216" height="421" src="https://data.ulearngo.com/assets/3bd33d09-3afb-4ef2-bce3-a007bfac8666" width="800"/></p>
<h2><strong>Change in Demand:</strong></h2>
<p>This is a situation which is due to a variation in any determinant of demand other than commodity/service own price and it is described by a shift in the demand curve for the commodity or service.</p>
<p><img alt="" class="alignnone size-full wp-image-405216" height="421" src="https://data.ulearngo.com/assets/5a91a63d-dcd6-40ca-be8a-52554586854b" width="800"/></p>
<h3><strong>Fig. 3: An increase in demand </strong></h3>
<p><img alt="" class="alignnone size-full wp-image-405218" height="643" src="https://data.ulearngo.com/assets/a813e1c5-3a55-4277-a4f1-1c953f035f05" width="800"/></p>
<h3><strong>Fig. 4: A decrease in demand</strong></h3>
<p><img alt="" class="alignnone size-full wp-image-405219" height="584" src="https://data.ulearngo.com/assets/855ec939-3a64-44cc-a878-1792471411f0" width="800"/></p>
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Change in Quantity Demanded and Change in Demand

Economics studies social behavior guiding the allocation of scarce resources to meet the unlimited needs and desires of the individual members of a given society, and for the production of goods and services, growth of production and welfare over time, and a great variety of other complex issues of vital concern to society. 

Economics

Discover the principles behind the behavior of consumers and the factors that affect demand, including determinants of demand, types of demand, elasticity of demand, and its measurement, as well as how to apply price elasticity of demand in real-life situations.


Change in Quantity Demanded and Change in Demand

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