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What are the Exceptions to the Law of Demand? CA Foundation Notes Exceptions to the Law of demand are- Giffen goods - Giffen items were launched by Sir Robert Giffen. As a result, Giffen goods was born. Consumers perceive these items to be essential. As a result, rather than the inverse relationship predicted by the Law of Demand, price fluctuations induce a straight link between price and amount demanded. Veblen goods - Thorstein Veblen, an American economist, coined the term Veblen Goods. As a result, the commodities are known as Veblen goods. Consumers may feel that a higher-priced product equals higher quality, while a lower-priced product equals worse quality. As a result, demand for such commodities, also known as Veblen goods, grows with higher prices and falls with lower prices. The speculative market of shares - People tend to buy shares of companies whose stock values are rising on the stock market. They do so in the expectation of increasing their profits as the stock marke