IT HOME Programming care

IT HOME Programming Care

Tuesday, November 15, 2016

Law of Demand as text

Law of Demand:
Other things remaining the same, If price of the commodity decreases.
Conversely, If price of the commodity decreases, demand for the commodity increases.

Exceptional Law of Demand: 
  1. Veblen goods/commodity: Increasing price and increasing Demand.
Example:
  • Expensive cars.
  •  Antic piece
     2.Giffen goods: Decreasing price and decreasing Demand.

Example:
  • Spoil fish
  • Thick cloth 

0 comments:

Post a Comment

'; (function() { var dsq = document.createElement('script'); dsq.type = 'text/javascript'; dsq.async = true; dsq.src = '//' + disqus_shortname + '.disqus.com/embed.js'; (document.getElementsByTagName('head')[0] || document.getElementsByTagName('body')[0]).appendChild(dsq); })();

IT HOME Freelancing Care