MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Growth Rate

What is meant...

Question

What is meant by extension of demand?

Open in App

Solution

When quantity demanded of a commodity increases due to decrease in own price of the commodity, other factors remaining constant, it is a situation of extension of demand.

Suggest Corrections

thumbs-up

1

Similar questions

What is meant by extension of supply?

What is meant by contraction of demand?

What is meant by quantity demanded?

Q. What is meant by effective demand?

What is meant by price elasticity of demand?

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Growth rate

ECONOMICS

Watch in App

explore_more_icon

Explore more

Standard XII Economics

Join BYJU'S Learning Program

CrossIcon