Expansion and Contraction of Demand | Quickest & Easiest Explanation in Hindi

The variations in the quantities demanded of a product with change in its price, while other factors are at constant, are termed as expansion or contraction of demand. 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 of a product.
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Demand | movement and shift | economics | class 11 | Part 4

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