Economy, asked by karthik4027, 1 year ago

explain law of demand and it's exception for 5marks... with diagram

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Answered by rpcrudra2468
0

Giffen and Veblen goods are exceptions to the Law of Demand. ... The Law of Demand states that the quantity demanded for a good or service rises as the price falls, ceteris paribus (or with all other things being equal). Therefore, the Law of Demand is an inverse relationship between price and quantity demanded.Jan 20, 2018


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