Question

What are the exceptions of law of demand ??

Answer 1

Heya....

See here for your answer....

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Law of demand States that there is an inverse relationship between the own price and the quantity demanded of the commodity when other aspects remains constant...

So , exceptions are the cases in which it gets fails..

1 Articles of distinction

The goods who buys by the rich people's get reduce to purchase if their prices decrease as it no mean to buy them for they are not expensive...

2 Giffen goods

Those goods who r already cheap but if the more reduction in price occur it will take the less purchase as the good will not be safe for buyers...

3 Irrational judgement

If someone compare price with the quality of the good then always highly expensive goods must prefer it get more good in more price..

Thank you

Answer 2

HEY MATE HERE IS YOUR ANSWER

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1. Article of distinction








2. Giffen Goods










3. Irrational judgement












Hope it will help you

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