The law of demand states that „Other things being equal, a fall in price will lead to an increase in quantity demanded .‟Highlight any Four circumstances under which this law may not hold.

MJ
  • Incase of the  essential goods that must be consumed
  • Ostentatious goods that must be consumed
  • Luxurious goods like cars
  • Inferior goods i.e goods for the poor
  • Geffen goods e.g bread



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