Economy, asked by mdsufiyan1983, 3 months ago

31. Distinguish between extension and contraction of demand.

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Answered by Anonymous

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Expansion of demand refers to a rise in demand only due to a fall in price. Contraction of demand refers to a fall in the demand only due to a rise in price. ... Contraction of demand takes place solely due to a rise in price. All other factors affecting demand remain constant.

Answered by asmidhanya

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