Define decrease in demand .what causes …
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Yogita Ingle 4 years, 10 months ago
Whereas the contraction in demand implies the fall in quantity demanded as a result of rise in price, decrease in demand means the whole demand curve shifts to a lower position. In other words, decrease in demand means that at various prices, less is demanded than before. The decrease in demand does not occur due to the rise in price but due to the changes in other determinants of demand.
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