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CBSE class 12 Economics notes - Exceptions To The Law Of Demand



CBSE class 12 Economics notes - Exceptions To The Law Of Demand

You can attempt our CBSE Class 12 Economics classes with detailed explanation, analysis of the exam and much more. We also provide notes, sample papers, different blogs, and articles on important topics, and information related to board examination.

EXCEPTIONS TO THE LAW OF DEMAND

  • Ignorance – Being ignorant of the prevailing prices, a consumer may buy more of a commodity when its price has in fact gone up.

  • Emergency – In the case of an emergency like flood, famine or war, the households do not behave rationally and the law of demand doesn’t operate.

  • Miscellaneous – Future changes in prices, change in weather conditions, change in fashion, and loss of faith are some other exceptions where the law of demand doesn’t operate.

The detailed explanation of ‘Law of Demand and its Exceptions with examples is available in CBSE Class 12 Economics classes. For demo, Economics notes, sample papers, CBSE guide, register with Takshila Learning.


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