Advertisement Remove all ads

Explain Briefly Any One Determinant of an Exceptional Demand Curve. - Economics

Explain briefly anyone determinant of an exceptional demand curve.

Advertisement Remove all ads

Solution

The bandwagon effect is an exception to the law of demand as the price and demand do not move in opposite directions. Bandwagon effect means that a consumer’s demand for a commodity gets influenced by the taste and preference of the social class to which the consumer belongs. For example, a businessman may increase the demand for golf balls in order to show that he is a successful businessman.

  Is there an error in this question or solution?
Advertisement Remove all ads

APPEARS IN

Advertisement Remove all ads
Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×