When less is purchased at the constant price, it is called _________ in demand. (increase / decrease / expansion / contraction), Fill in the blank with appropriate alternative given in the bracket.
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decease in demand.......
I think.....
I think.....
mayakhan:
thnx
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Answer:
Decrease
Explanation:
When less is purchased at the constant price, it is called decrease in demand.
The demand decrease is a situation when the demand for goods declines as a result of a factor shift other than commodity cost. Therefore, even if the price is continuous, less is bought. Some of the factors that causes falling demand are falling revenue, shifting tastes and preferences away from the commodities, and increasing the price of other goods.
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