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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
With the help of a graph explain the increase in demand concept.
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 ______.
What is an expansion of demand?
There are train and bus services between New Delhi and Jaipur. Suppose the train fare between the two cities comes down. How will this affect the demand curve for bus travel between the two cities?
With the help of a suitable diagram, distinguish between a change in quantity demanded and a change in demand.
Define contraction of demand (or decrease in quantity demanded).
What causes an upward movement along a demand curve?
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.
Explain the following diagram.
