Demand analysis:demand determinants,law of demand and its exceptions
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the determinants of demand are
=Dx,y,Pc,Ps,Pe
commodities must b of same quantity.
jewellery item.
first time consumption
=Dx,y,Pc,Ps,Pe
commodities must b of same quantity.
jewellery item.
first time consumption
Answered by
1
Answer:
There are two exceptions to the Law of Demand. Giffen and Veblen goods are exceptions to the Law of Demand. However, they are extreme cases and can be quite difficult to prove. But economists generally agree that there are rare cases where the Law of Demand is violated.
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