Skip to main content
Studentify LogoStudentify
WAEC 2024

The law of demand will not hold when

  1. Anormal goods are involved.
  2. Bsize of the population changes.
  3. Crare commodities are involved.
  4. Dincomes of consumers increase.

Explanation

The law of demand states that quantity demanded decreases as price increases, and vice versa. Rare commodities, such as antiques and unique art pieces, are exceptions to this law because their demand is often driven by exclusivity and status rather than standard price considerations.

Sit a WAEC paper

Real past questions, marked instantly, no account needed.

Start a free paper

Have Sade explain it

Talk it through with a tutor that adapts to you. Free to start.

Talk to Sade

Related questions

More economics practice around this topic.

More economics questions