Limitation
- Change in taste or fashion.
- Change in income
- Change in other prices.
- Discovery of substitution.
- Anticipatory change in prices.
- Rare or distinction goods.
There are certain goods which do not follow this law. These include Veblen goods and Giffen goods.
Read more about this topic: Law Of Demand
Famous quotes containing the word limitation:
“Liberty has never come from the government. Liberty has always come from the subjects of the government. The history of government is a history of resistance. The history of liberty is the history of the limitation of government, not the increase of it.”
—Woodrow Wilson (1856–1924)
“When we get to wishing a great deal for ourselves, whatever we get soon turns into mere limitation and exclusion.”
—George Eliot [Mary Ann (or Marian)
“...to many a mother’s heart has come the disappointment of a loss of power, a limitation of influence when early manhood takes the boy from the home, or when even before that time, in school, or where he touches the great world and begins to be bewildered with its controversies, trade and economics and politics make their imprint even while his lips are dewy with his mother’s kiss.”
—J. Ellen Foster (1840–1910)