Question

Explain the exceptions of law of demand ?

Answer 1

Heya....

See here for your answer...

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Law of demand ---

It is the law that states that , there is an inverse relationship between the own price and the quantity demanded for a commodity..

It's exceptions will be...

-- Giffen goods

These r the goods which are already cheap and if the prices will decrease more then the consumer will not buy as it can be harmful so law of demand get fails..

--- Article of distinction

Those articles who r purchased for show off at high prices and reduce in demand in case of lowering the price..

-- Irrational judgement

When the consumer compare the good with its price then only high priced goods r demanded..

Thank you

Answer 2

heya !!


here is your answer⤵️⤵️

Law of demand :


its states whether goods are good or bad.

The cost of production also decrease.

according to Consumer's deisre , they do for law of demand.


hope my answer helps you