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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
What is meant by contraction of demand?
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Answer

When quantity demanded of a commodity decreases due to increase in own price of the commodity, other factors remain constant, it is a situation of contraction of demand.

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