Distinguish between contraction of quantity demanded and decrease in demand of a commodity
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Heya....
Contraction of demand...
** It refers to decrease in Quantity demanded due to increase in It's own price...
** It leads to upward movement along the demand curve from right to left...
Decrease in demand....
** It refers to decrease in Quantity even when own price of commodity remains constant..
** It leads to backward shift in demand curve....
Contraction of demand...
** It refers to decrease in Quantity demanded due to increase in It's own price...
** It leads to upward movement along the demand curve from right to left...
Decrease in demand....
** It refers to decrease in Quantity even when own price of commodity remains constant..
** It leads to backward shift in demand curve....
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hope it help you.....
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