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प्रश्न
Differentiate between Decrease in demand and Contraction of demand.
फरक स्पष्ट करा
उत्तर
| Decrease in Demand | Contraction of Demand |
| This is caused by a change in determinants other than the own price of the commodity. | This is caused only by a change in the own price of the commodity. |
| These include a decrease in income, a decrease in the price of the substitute goods, an increase in the price of the complementary goods, and a change in taste and preferences against the commodity. | An increase in own price of the commodity is the only cause. |
| Diagrammatically, this is shown as a backward shift in the demand curve. | Diagrammatically, this is shown as an upward movement (right to left) on the same demand curve. |
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Distinction Between Contraction of Demand and Decrease in Demand
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