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).