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प्रश्न
What is meant by the contraction in demand?
State contraction in Demand.
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उत्तर
Other things being the same, when the demand for a product falls as a result of the rise in its price, it is termed a contraction in demand. There will be an upward movement along the same demand curve.
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संबंधित प्रश्न
As a result of rise in consumer's income, the demand curve for coarse-grain (inferior good) will:
What does a downward movement along the same demand curve indicate?
When the demand curve of a product shifts to the right, it represents a situation of ______.
With the help of a suitable diagram, distinguish between a change in quantity demanded and a change in demand.
What is meant by an increase in demand?
What does a rightward shift of demand curve indicate?
The following table shows a change in the demand. Read the table carefully and answer the question that follows:
| Case I | Case II | ||
| Price (₹) | Quantity | Price (₹) | Quantity |
| 10 | 20 | 10 | 20 |
| 10 | 10 | 5 | 20 |
What type of change is it, decrease in demand or contraction in demand? Give a reason.
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.
A change in quantity demanded as a result of price change will imply a shift of the demand curve to the right.
