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MICROECONOMICS CH : 5 THEORY OF DEMAND — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 5 THEORY OF DEMAND1 Mark
Question
Decrease in demand refers to contraction of demand.
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Answer

False. Decrease in demand refers to decrease in quantity demanded of a commodity at its existing price. It is a situation of backward shift in demand curve, not of contraction of demand.

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