demand which does not obey the law of demand is called giffen goods.
demand which does not obey the law of demand is called?
giffen goods
in microeconomics, the law of demand states that, "conditional on all else being equal, as the price of a good increases (↑), quantity demanded decreases (↓); conversely, as the price of a good decreases (↓), quantity demanded (↑)". in other words, the law of demand describes an inverse relationship between price and quantity demanded of a good. alternatively, other things being constant, quantity demanded of a commodity is inversely related to the price of the commodity. for example, a consumer may demand 2 kilograms of apples at $70 per kg; he may, however, demand 1kg if the price rises to $80 per kg. this has been the general human behaviour on relationship between the price of the commodity and the quantity demanded. the factors held constant refer to other determinants of demand, such as the prices of other goods and the consumer's income. there are, however, some possible exceptions to the law of demand, such as giffen goods and veblen goods.
law of demand
obey





























obey may refer to:





























bullet::::- obedience (human behavior), the act of following instructions or recognizing someone's authority





























bullet::::- obey (surname)





























bullet::::- "obey" (brainbombs album), a 1995 album by the swedish band brainbombs





























bullet::::- "obey" (axis of advance album), a 2004 album by the canadian band axis of advance





























bullet::::- "andre the giant has a posse", which spawned the obey giant movement





























bullet::::- obey (clothing), a fashion line by shepard fairey





























bullet::::- obey (benedictum album), 2013





























bullet::::- "obey" (the jacka & blanco album), 2012





























bullet::::- obey (upon this dawning song),2014





























section::::see also.
obey