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प्रश्न
What is contraction in demand?
Define contraction of demand (or decrease in quantity demanded).
उत्तर
When quantity demanded of a commodity falls due to rise in own price of the commodity, other factors remaining constant, it is called contraction of demand or decrease in quantity demanded.
संबंधित प्रश्न
Explain briefly anyone determinant of an exceptional demand curve.
State with reason whether you agree or disagree with the following statement:
When the prices of Giffen goods falls, demand for such goods rises.
State with reasons whether you agree or disagree with the following statement:
There is a direct relationship between the price of Giffen goods and its demand.
State with reasons whether you agree or disagree with the following statement:
When price of Giffen goods fall, the demand for it increases.
State with reason whether you agree or disagree with the following statement:
When price of Giffen goods fall, the demand for it increases.
'Price is an indicator of quality'. The statement applies to ______.
State with reason whether you agree or disagree with the following statement:
When price of Giffen goods fall, the demand for it increases.
State with reasons whether you agree or disagree with the following statement:
When price of Giffen goods fall, the demand for it increases.
Explain the following diagram with reference to the concept of Giffen goods.
The demand curve can slope upwards from left to right. Give one argument in support of this statement.
Why are prestige good an exception to the law of demand?
