The law of demand states that as the price of a good or service increases, the quantity demanded goes down and vice-versa. Share an example of a good or service that follows the law of demand. Give an example of goods or services that do not follow the law of demand. Explain the reasons behind why these goods or services are exceptions to the rule.
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Discussion question
- The law of demand states that as the price of a good or service increases, the quantity demanded goes down and vice-versa. Share an example of a good or service that follows the law of demand.
- Give an example of goods or services that do not follow the law of demand. Explain the reasons behind why these goods or services are exceptions to the rule.
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