Contraction in demand
CBSE, JEE, NEET, CUET
Question Bank, Mock Tests, Exam Papers
NCERT Solutions, Sample Papers, Notes, Videos
Posted by Aryan Kalura 6 years, 3 months ago
- 1 answers
Test
Related Questions
Posted by Mahi Bansal 1 year, 4 months ago
- 0 answers
Posted by Charvi Charvi 1 year, 4 months ago
- 0 answers
Posted by Shiv Narayan Kumar 1 year, 4 months ago
- 1 answers
Posted by Vivek Saroj 1 year, 4 months ago
- 0 answers
myCBSEguide
Trusted by 1 Crore+ Students
Test Generator
Create papers online. It's FREE.
CUET Mock Tests
75,000+ questions to practice only on myCBSEguide app
Yogita Ingle 6 years, 3 months ago
Contraction of demand
There is contraction of demand for a commodity when there is increase in the price of commodity. When price is 10 dollars per kilogram the demand is 40 kilograms. When price increases to 20 dollars there is contraction of demand from 40 to 30 kilograms.
The diagram shows contraction of demand. Quality of demand is shown on OX axis. The price is shown on OY axis. DD is demand curve. When price increases the quantity demanded comes down and demand curve moves upward.
2Thank You