Economics B A-Level
Contraction
What Contraction means in Economics B A-Level, as defined for Pearson Edexcel.
Definition of Contraction
Check what you remember
Read the wording for your board, then hide it and explain Contraction in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: Pearson Edexcel
A decrease in quantity supplied caused by a change in the price of the good itself, shown as a movement along the supply curve.
Topics that use Contraction
- Supply (Pearson Edexcel A-Level)
Related terms
- Ceteris paribus
- Ethical production
- Extension
- Movement along a supply curve
- Profit maximisation
- Sales maximisation
- Shift of the supply curve
- Supply curve
Using Contraction in the exam
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