Exceptions to the Law of Demand Explained - A Level and IB Economics
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3 سال پیش
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In this video we explain
In this video we explain two possible exceptions to the law of demand, namely Giffen Goods and Veblen Goods.
#aqa #ibeconomics #edexcel
There are possible exceptions to the law of demand.
Giffen goods are highly inferior products with few substitutes.
Veblen goods are high-luxury products linked strongly to buyers gaining satisfaction from conspicuous consumption. Veblen goods are more likely in reality than Giffen goods.
#aqa #ibeconomics #edexcel
There are possible exceptions to the law of demand.
Giffen goods are highly inferior products with few substitutes.
Veblen goods are high-luxury products linked strongly to buyers gaining satisfaction from conspicuous consumption. Veblen goods are more likely in reality than Giffen goods.
3 سال پیش
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