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 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)
“For true poetry, complete poetry, consists in the harmony of contraries. Hence, it is time to say aloud—and it is here above all that exceptions prove the rule—that everything that exists in nature exists in art.”
—Victor Hugo (1802–1885)
“The law of the Lord is perfect, converting the soul: the testimony
of the Lord is sure, making wise the simple.”
—Bible: Hebrew Psalm XIX (l. XIX, 7)
“That whatever a man says, promises, or resolves in passion he must stick to later on when he is cold and sober—this demand is among the heaviest burdens that weigh on humankind.”
—Friedrich Nietzsche (1844–1900)