Economics B A-Level
Contraction of demand
What Contraction of demand means in Economics B A-Level, as defined for Pearson Edexcel.
Definition of Contraction of demand
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Reference: Pearson Edexcel
A decrease in quantity demanded caused by a rise in price, shown as a movement along the existing curve.
Topics that use Contraction of demand
- Demand (Pearson Edexcel A-Level)
Related terms
- Complementary goods
- Non-price determinants
- Opportunity cost
- Rational decision making
- Shift of the demand curve
- Utility maximisation
- Extension of demand
- Movement along the demand curve
Using Contraction of demand in the exam
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