Maharashtra State Board course HSC Science (Computer Science) 12th Board Exam
Share
Notifications

View all notifications

Fill in the Blank with Appropriate Alternatives Given Below: When Less is Purchased at the Constant Price, It is Called _______ in Demand. - Economics

Login
Create free account


      Forgot password?

Question

Fill in the blank with appropriate alternatives given below:

When less is purchased at the constant price, it is called _______ in demand.

  • increase

  • decrease

  • expansion

  • contraction

Solution

When less is purchased at the constant price, it is called decrease in demand.

Explanation:
Decrease in demand is a condition when the demand for good decreases due to a change in factor other than the price of the commodity. Accordingly, less is purchased even when the price is constant. Some of the factor causing decrease in demand are decrease in income, moving of taste and preferences away from the commodity and rise in prices of other goods.

  Is there an error in this question or solution?

APPEARS IN

 Micheal Vaz Solution for Micheal Vaz Class 12 Economics (2019 to Current)
Chapter 3: Demand Analysis
Exercise | Q: 1.2 | Page no. 24

Video TutorialsVIEW ALL [3]

Solution Fill in the Blank with Appropriate Alternatives Given Below: When Less is Purchased at the Constant Price, It is Called _______ in Demand. Concept: Demand.
S
View in app×