Question

exceptions of law of demand

Answer 1

Heya...

Exceptions of law of demand are....

* Articles of distinction...

Those articles who generally purchase by rich people for reputation and when it's prices decreases then normal people can also afford them so no difference will get so they reduce it's demand with prices...

* Giffen goods...

Those goods which r highly cheaper and more decrease price create a bad image in front of buyers so it's demand decreases with decrease in price....

* Ignorance....

When we compare goods quality with price then we ignore prices and buy more goods on more prices...

Answer 2

Heya....

See here for your answer....

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Law of demand show inverse relationship between own price and quantity demanded for a commodity.

But some exceptions of this law are...

"" Giffen goods

When these goods become cheaper then people stop to purchase them because they are already cheap and more fall in price lead to create bad impact on buyers...


"" Article of distinction

These are the article buying by the rich peoples to show their money power but when they become cheap they stop to buy as it would no mean for them ..

"" Irrational judgement

When we compare prices with product then the expensive goods are prefers then law of demand gets fails..

Thank you