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Theory of consumer behaviour — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsTheory of consumer behaviour1 Mark
Question
Contraction of demand is the result of:
  1. Decrease in the number of consumers.
  2. Increase in the price of goods concerned.
  3. Increase in the prices of other goods.
  4. Decrease in the income of purchasers.
✓

Answer

  1. Increase in the price of goods concerned.

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