Question

distinguish between decrease in demand and contraction of demand

Answer 1

When price of a good remains the same but demand for that good decreases or increases due to change in any other factor, then it is known as 'contraction' or 'expansion' in demand.
On the other hand, increase or decrease in demand is due to change in price.


Hope it helps.........
Please mark as brainliest.......

Answer 2

dear !!!!!



Contraction of demand shows the changes on the same demand curve. Here there is an upward movement along the same demand curve.Contraction of demand occurs
when there is a rise in the price of the product. ... Contraction in demand is caused only due to the price factor.

}}}}}}}}}}}.÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷