Question

What are the exceptions to the law of demand learn.In?

Answer 1

Giffen Goods, Luxury Goods, Necessary Goods are some of the examples of exceptions of law of demand.

Answer 2

Answer:

There are two exceptions to the Law of Demand. Giffen and Veblen goods are exceptions to the Law of Demand. However, they are extreme cases and can be quite difficult to prove. But economists generally agree that there are rare cases where the Law of Demand is violated.