Exceptions To The Law of Demand
Generally, the amount demanded of a good increases with a decrease in price of the good and vice versa. In some cases, however, this may not be true. Such situations are explained below.
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Famous quotes containing the words exceptions to, exceptions, law and/or demand:
“... people were so ridiculous with their illusions, carrying their fools caps unawares, thinking their own lies opaque while everybody elses were transparent, making themselves exceptions to everything, as if when all the world looked yellow under a lamp they alone were rosy.”
—George Eliot [Mary Ann (or Marian)
“Skepticism is unbelief in cause and effect. A man does not see, that, as he eats, so he thinks: as he deals, so he is, and so he appears; he does not see that his son is the son of his thoughts and of his actions; that fortunes are not exceptions but fruits; that relation and connection are not somewhere and sometimes, but everywhere and always; no miscellany, no exemption, no anomaly,but method, and an even web; and what comes out, that was put in.”
—Ralph Waldo Emerson (18031882)
“In a democracyeven if it is a so-called democracy like our white-élitist onethe greatest veneration one can show the rule of law is to keep a watch on it, and to reserve the right to judge unjust laws and the subversion of the function of the law by the power of the state. That vigilance is the most important proof of respect for the law.”
—Nadine Gordimer (b. 1923)
“We are well advised to keep on nodding terms with the people we used to be, whether we find them attractive company or not. Otherwise they turn up unannounced and surprise us, come hammering on the minds door at 4am of a bad night and demand to know who deserted them, who betrayed them, who is going to make amends. We forget all too soon the things we thought we could never forget.”
—Joan Didion (b. 1934)