What is the difference between demand and quantity demanded?

If the demand for a particular commodity changes due to change in factors other than price, then it is known as change in demand. Whereas, if the demand changes due to change in price, then it is referred as change in quantity demanded.

Graphically, change in demand is represented as shift in the demand curve. 

Shift in demand is basically of two types:

(i) Increase in Demand-There is increase in demand for a good if the other factors such as income, taste and preferences,etc moves in favour of the good.This is represented by a forward shift in the demand curve.

(ii) Decrease in Demand- Demand for a good decreases if other factors moves in opposite direction of the good.It is shown as backward shift in the demand curve.

Diagrammatically, Change in demand is known as movement along the curve

Change in quantity demanded is also of two types:

(i) Extension of Demand- There is extension of demand if the price of the concerned good falls. This is represented as downward movement along the same demand curve.

(ii) Contraction of Demand-  There is contraction in demand if the price of the good rises. Graphically, this is represented as upward movement along the same demand curve.

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change in demand of a good due to change in its own price is called..CHANGE IN QUANTITY DEMANDED

change in demand of a good due to change in price of related good is ..CHANGE IN DEMAND

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In economics demand refers in general to the quantity of a good or service that buyers want to purchase. In order to explain clearly the nature of behavior of this demand, economist use different associated terms such as demand curve, and quantity demanded. In particular, economist differentiate between changes in demand because of changes in price, for that due to other reasons. Thus they speak of a demand curve that shows quantity of goods that buyers would purchase at different prices. Quantity demanded refers to the quantity corresponding to a given price as per the demand curve. Thus the quantity demanded is the quantity that buyers want to purchase at a given price as per a demand curve.

However the shape or nature of the demand curve itself changes depending on factors like change in income and preferences of people. Such change in the nature of demand curve are called a change in demand. Used this way, demand refers to the quantities buyers are prepared to purchase at different prices when all other factors are held constant.

 

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