Changes in demand:

Extension and contraction of demand:

The demand curve does not vary its position here. Whenever change in demand for a commodity is totally due to a modification in its price, it is termed as extension or contraction of demand. The extension or contraction in demand is movements on or all along the given demand curve. It is shown in figure below:

Whenever the price of a good is OP, demand is OQ. When the price of good falls to OP₂, demand expands to OQ₁. Therefore extension in demand is QQ₁. On other hand, if the price of good rises to OP₁ demand bonds to OQ₂. Therefore contraction in demand is QQ₂.

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