Exceptions To The Law of Demand
Generally, the amount demanded of a good increases with a decrease in price of the good and vice versa. In some cases, however, this may not be true. Such situations are explained below.
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Famous quotes containing the words exceptions to, exceptions, law and/or demand:
“... people were so ridiculous with their illusions, carrying their fools’ caps unawares, thinking their own lies opaque while everybody else’s were transparent, making themselves exceptions to everything, as if when all the world looked yellow under a lamp they alone were rosy.”
—George Eliot [Mary Ann (or Marian)
“Skepticism is unbelief in cause and effect. A man does not see, that, as he eats, so he thinks: as he deals, so he is, and so he appears; he does not see that his son is the son of his thoughts and of his actions; that fortunes are not exceptions but fruits; that relation and connection are not somewhere and sometimes, but everywhere and always; no miscellany, no exemption, no anomaly,—but method, and an even web; and what comes out, that was put in.”
—Ralph Waldo Emerson (1803–1882)
“Bear one another’s burdens, and in this way you will fulfill the law of Christ.”
—Bible: New Testament, Galatians 6:2.
“... the self respect of individuals ought to make them demand of their leaders conformity with an agreed-upon code of ethics and moral conduct.”
—Mary Barnett Gilson (1877–?)