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Theory of consumer behaviour — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsTheory of consumer behaviour1 Mark
MCQ
Contraction of demand is the result of:
  • A
    Decrease in the number of consumers.
  • ✓
    Increase in the price of goods concerned.
  • C
    Increase in the prices of other goods.
  • D
    Decrease in the income of purchasers.
✓

Answer

Correct option: B.
Increase in the price of goods concerned.

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