Extension/contraction and shift in demand

Question

Differentiate between extension/contraction and shift in demand?

Answer 1

Comparison between extension/contraction and shift in demand are as given here:

Extension/Contraction of Demand:

• Demand is varying because of changes within price
• Other factors as preferences, taste and income and other remaining similar.
• Consumer moves beside identical demand curve

Shift in Demand:

• Demand is varying because of changes in other factors
• Price of commodity remain similar
• Consumer may shifts to higher/lower demand curve.