Question

Distinguish between change in quantity demanded and change in demand.

Hint:

Remember: "Price changes Quantity," but "Factors change Demand."

Answer 1

Step 1: Understanding the Concept: 
The primary difference lies in the cause of the change. One is caused by the price of the product itself, while the other is caused by external factors.

Step 2: Key Differences Table:
 

Basis	Change in Quantity Demanded	Change in Demand
Cause	Change in own price of the good.	Change in factors other than price.
Effect	Movement along the demand curve.	Shift of the demand curve.
Terms	Extension or Contraction.	Increase or Decrease.
Other factors	These remain constant.	Price of the good remains constant.

Step 3: Illustration:
In "Change in Quantity Demanded," the curve stays in place, but we move to a different point on it. In "Change in Demand," the entire curve moves to a new position (left or right).

Step 4: Final Answer:
Change in Quantity Demanded is a movement due to price; Change in Demand is a shift due to other factors (like income or tastes).