ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -When the price of the commodity rises, the quantity demanded falls. It leads to the upward movement of the demand curve. It is also known as contraction of demand.

Detailed explanation-2: -Upward Movement: Indicates contraction of demand, in essence, a fall in demand is observed due to price rise. Downward Movement: It shows expansion in demand, i.e. demand for the product or service goes up because of the fall in prices.

Detailed explanation-3: -A change in the price of a good or service causes a movement along a specific demand curve, and it typically leads to some change in the quantity demanded, but it does not shift the demand curve. The graph on the left lists events that could lead to increased demand.

Detailed explanation-4: -Upward Movement indicates a decrease in demand, i.e., a decrease in demand due to a price increase. Downward Movement indicates an increase in demand, i.e., demand for the product or service rises as prices decrease.

Detailed explanation-5: -Movement: An upward movement along the demand curve represents a fall in quantity demanded due to rise in price while a downward movement represents a rise in quantity demanded due to fall in price.