4 important exceptions to the law of demand
The most important exception to the law of demand are 1. Giffen goods 2. Prestigious goods 3. Speculation 4. Ignorance about quality.
The most important exception to the law of demand are 1. Giffen goods 2. Prestigious goods 3. Speculation 4. Ignorance about quality.
Out of experience it is seen that people hurry to buy it more at lower price and less at high price. This common tendency is expressed by the law of demand.