Movement along the same demand curve is known as
(A) Extension and Contraction of Demand
(B) Increase and Decrease of Demand
(C) Contraction of supply
(D) Increase of supply
Correct Answer : Extension and Contraction of Demand
Question Asked : SSC Section Officer (Audit) Exam 2001
Explanation : A movement along the demand curve occurs when there is a-change in price. This may occur because of a change in supply conditions. The factors affecting demand are assumed to be held constant. A change in price leads to a movement along the demand curve and is referred to as a change in quantity demanded. Movement along the same demand curve is known as extension and contration of demand.
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Tags : Microeconomics
