In economics, the law of Demand is true to the lines for most cases. However, some significant exceptions are there. For instance, even if the Price for Cigarettes goes up, its Demand won't reduce. The exceptions to the law of demand typically suit the Giffen commodities, Veblen and essential goods.
- What is demand structure? - If the demand curve is linear, then... (Read more)
- What are the types of demand function? - Types of Demand Function Dx= Demand for... (Read more)
- What's another word for demand? - What is another word for demand?requirementultimatumdesireimportunityimpositionorderrequestcallcommandinsistence (Read more)
- What are the five factors of demand? - Demand Equation or Function The quantity demanded... (Read more)
- Which is not determinant of demand? - More cars will be demanded at every... (Read more)