The law of demand is the first and primary law of economics. Do you agree? Explain the law of demand with the help of a clearly labelled diagram. [Answer in 150 – 200 words] [Draw in paper; take photo and paste/Use MS Word/add screenshot] b) Though, the law of demand is the primary law of economics, it is subject to certain limitations in the form of exceptions. Discuss any five such exceptions to law of demand with valid examples.

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