Did you know, you can add your own notes to this page and help this site grow? Just click any red link or the edit button above!

From ZuluNotes - Free Leaving Cert Notes

Law of Demand
Subject:	Economics
Paper
Section	Demand
Question
Level	H&O
Note

The law of demand states that, if all other factors remain equal, the higher the price of a good, the less people will demand that good. Most goods follow this law, but there are exceptions, such as:

• Giffen goods
• Snob Goods
• Goods Affected By Consumers' Expectations

For more information, see: Demand