Law of demand states that there is a negative relation between the price and the quantity demanded of the commodity. According to you, which of the following option violates the law of demand? |
Substitute goods Complementary goods Dipsomaniac All of the above |
Dipsomaniac |
The correct answer is Option 3: Dipsomaniac The law of demand states that there is an inverse relationship between the price of a commodity and the quantity demanded: as the price rises, the quantity demanded falls, and vice versa. Let’s analyze the options:
Therefore, dipsomaniac represents a scenario where the law of demand might not hold true, as their demand might not decrease with increasing prices. |