Question

what is law of demand? discuss its exceptions​

Answer 1

Answer:

There are two exceptions to the Law of Demand. 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). ...

Explanation:

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Answer 2

Answer:

the law of demand is a fundamental principle which states that, for ordinary goods, "conditional on all else being equal, as the price of a good increases, quantity demanded will decrease; conversely, as the price of a good decreases, quantity demanded will increase".

There are two exceptions to the Law of Demand. 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).

Explanation:

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