name a good that violates law of demand
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Giffen Goods
Giffen GoodsA Giffen good is considered to be an exception to the Law of Demand. ... There are very few examples of Giffen goods mostly because it is difficult to prove that they exist. It's when consumers consume more of an inferior good when the price of the good rises, which is in direct violation of the Law of Demand
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A Giffen good is considered to be an exception to the Law of Demand. ... There are very few examples of Giffen goods mostly because it is difficult to prove that they exist. It's when consumers consume more of an inferior good when the price of the good rises, which is in direct violation of the Law of Demand
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