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EXCEPTIONS TO THE LAW OF DEMAND : GIFFEN GOODS, VEBLEN EFFECT, EMERGENCY CONDITION ( part-1 )

Published on December 23rd, 2020 The basic supply and demand chart in microeconomics shows price on the vertical axis, quantity demanded on the horizontal axis and a downward sloping demand curve. The supply curve is upward sloping and intersects the demand curve at equilibrium. However, not all markets fit this model in reality. Some goods see demand rise and fall with the price in a positively correlated relationship. These are the exception case and we talk about these exception case. Today we have only discussed the three major exceptions of law of demand. Stay tuned, I will discuss another three exceptions. Hope you are understand this video clearly. If there are any doubt, let me know, write in the comment box. Please like the video and subscribe my channel for more content about economics. Your wishing motivate me to create such content. Thanks for watching.

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16 июля 2024 г.
12+
11 просмотров
Год назад
16 июля 2024 г.

Published on December 23rd, 2020 The basic supply and demand chart in microeconomics shows price on the vertical axis, quantity demanded on the horizontal axis and a downward sloping demand curve. The supply curve is upward sloping and intersects the demand curve at equilibrium. However, not all markets fit this model in reality. Some goods see demand rise and fall with the price in a positively correlated relationship. These are the exception case and we talk about these exception case. Today we have only discussed the three major exceptions of law of demand. Stay tuned, I will discuss another three exceptions. Hope you are understand this video clearly. If there are any doubt, let me know, write in the comment box. Please like the video and subscribe my channel for more content about economics. Your wishing motivate me to create such content. Thanks for watching.

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