Expansion and contraction in demand are caused by ____________.

change in price of a commodity

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change in income

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change in prices of related goods

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change in population

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Solution

The correct option is A change in price of a commodity
Expansion and contraction in demand are caused by change in price of a commodity.

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Similar questions

List-I	List-II
(a) Contraction of Demand	(i) Non-Price change effect
(b) Decrease in Demand	(ii) Demand curve remains the same
(c) Increase in Demand	(iii) Price change effect
(d) Expansion of Demand	(iv) Shifts the Demand curve

When the demand for a commodity depends on the effect of a change in the price of a related commodity, it is called

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