Advertisements
Advertisements
प्रश्न
Define contraction of demand (or decrease in quantity demanded).
Advertisements
उत्तर
When the quantity demanded of a commodity falls due to a rise in its own price of the commodity, other factors remaining constant, it is called a contraction of demand or a decrease in the quantity demanded.
संबंधित प्रश्न
What is meant by an increase in demand?
What does a downward movement along the same demand curve indicate?
What does an upward movement along the same demand curve indicate?
What is an expansion of demand?
Define decrease in demand.
What does a rightward shift of demand curve indicate?
With the help of a suitable diagram, explain expansion in demand.
Give two factors responsible for the shift of the demand curve to the right.
State whether the following statement is true or false. Give reasons.
An increase in the demand for a commodity is due to a fall in its price.
State whether the following statement is true or false. Give reasons.
Contraction of demand is the result of a decrease in the number of consumers.
