Explain Law of Demand and exceptions to the Law of Demand
Answers
Answered by
40
Heya....
Law of demand States that ,,, other things remaining constant then there is an inverse relationship between price and quantity demanded of a commodity.....
Exceptions of law of demand....
""" ARTICLE OF DISTINCTION....
Those articles who generally buys to set up reputation on high prices , so law if demand fails..
""" GIFFEN GOODS....
Those highly cheaper goods if more price falls then people thought them to be harmful and reduce demands....
""" IRRATIONAL JUDGEMENT...
If we compare goods with prices , then we prefer to buy expensive goods then also it get fails...
-- Be Brainly....
Law of demand States that ,,, other things remaining constant then there is an inverse relationship between price and quantity demanded of a commodity.....
Exceptions of law of demand....
""" ARTICLE OF DISTINCTION....
Those articles who generally buys to set up reputation on high prices , so law if demand fails..
""" GIFFEN GOODS....
Those highly cheaper goods if more price falls then people thought them to be harmful and reduce demands....
""" IRRATIONAL JUDGEMENT...
If we compare goods with prices , then we prefer to buy expensive goods then also it get fails...
-- Be Brainly....
Answered by
3
Negative relationship but when it fails then exception have....
Giffen good,,
Social article...
Value judgement...
Giffen good,,
Social article...
Value judgement...
Similar questions