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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
What is meant by an increase in demand?
As a result of rise in consumer's income, the demand curve for coarse-grain (inferior good) will:
What does an upward movement along the same demand curve indicate?
When the demand curve of a product shifts to the right, it represents a situation of ______.
Explain the following diagram:
Distinguish between “movement along the demand curve” and shift of a demand curve.
Define contraction of demand (or decrease in quantity demanded).
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.
