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.
Read more about this topic: Law Of Demand
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 else’s 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)
“Every declaration of love contains an unstated list of exceptions and demands.”
—Mason Cooley (b. 1927)
“No law can possibly meet the convenience of every one: we must be satisfied if it be beneficial on the whole and to the majority.”
—Titus Livius (Livy)
“The health of the eye seems to demand a horizon. We are never tired, so long as we can see far enough.”
—Ralph Waldo Emerson (1803–1882)