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Complete the following statement: When less units are demanded at high price it shows ______. - Economics

MCQ

Complete the following statement:

When less units are demanded at high price it shows ______.

Options

  • increase in demand

  • expansion of demand

  • decrease in demand

  • contraction in demand

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Solution

When less units are demanded at high price it shows contraction in demand.

Concept: Demand Analysis
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APPEARS IN

Balbharati Economics 12th Standard HSC Maharashtra State Board
Chapter 3.1 Demand Analysis
Exercise | Q 1. (4) | Page 25
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