Can anyone gives me examples of negative demand curve or when does the law of demand does not apply and explains to me why? thanks!
2007-04-30 21:10:38 · 3 answers · asked by bluejeans1328 1 in Social Science ➔ Economics
too many? i can't think of one when the law of demand doesn't apply?? examples of something when the prices go up and demand goes up too?
2007-04-30 21:53:41 · update #1
too many!!!, tell us and we could help telling u what can u do
2007-04-30 21:17:02 · answer #1 · answered by bmcsporran 4 · 0⤊ 0⤋
One case is for inferior goods. The classic example is
If you are at the beach and you need to drink. Water cost $1a pint and coke $2 a pint. You have $3 to spend, you prefer coke, but want to drink 2 pints of liquid. Then if the price of water is increased to $1.50 you buy more water.
2007-05-01 05:29:03 · answer #2 · answered by meg 7 · 0⤊ 0⤋
In the 1980's, Mercedes and BMW raised their prices and sold more cars, as the increased prices helped create an image of luxury.
2007-05-01 03:00:55 · answer #3 · answered by Bjorkmeister 5 · 0⤊ 0⤋