Advertisements
Advertisements
प्रश्न
What is meant by the contraction in demand?
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.
APPEARS IN
संबंधित प्रश्न
What is an expansion of demand?
Explain the following diagram:
Distinguish between 'movement along the demand curve' and shift of a demand curve.
What is meant by an increase in demand?
Define contraction of demand (or decrease in quantity demanded).
What causes an upward movement along a demand curve?
What does a rightward shift of demand curve indicate?
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.
Give two factors responsible for the shift of the demand curve to the right.
State whether the following statement is true or false. Give reasons.
A change in quantity demanded as a result of price change will imply a shift of the demand curve to the right.
