From the following examples explain which one is expansion of demand and increase in demanded. i) Consumers demand more of chocolate ice-cream due to rise in the price of vanilla ice-cream. ii) Indian Airlines reduces its airfare by 30% to attract more passengers.

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Q: demand

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A: The economics concept of demand describes the consumer's desire to purchase the good or service.

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A:

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A: Given, Price increased = 50% Demand increased = 30%

Q: Match The Following

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A: The goods which fulfill the same needs of a consumer are termed as substitute goods.

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