Question

when is there possibility of expansion - contraction of demand??​

Answer 1

Answer:

Expansion of demand refers to the period when quantity demanded is more because of the fall in prices of a product. However, contraction of demand takes place when the quantity demanded is less due to rise in the price o a product.

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Answer 2

Answer:

Expansion of demand takes place when the change in quantity demanded is positive. I.e the change in quantity demanded increases which correlates to a decrease in price due to the Law of demand. In this case, downward movement takes place along the same Demand Curve.

Contraction of demand takes place when the change in quantity demanded is negative. I.e change in quantity demanded decreases which correlates to an increase in price due to the Law Of Demand. In this case upward movement takes place along the same Demand Curve.