• anonymous
What are two examples of goods or services that violate the law of demand?
OCW Scholar - Principles of Microeconomics
  • Stacey Warren - Expert
Hey! We 've verified this expert answer for you, click below to unlock the details :)
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.
  • schrodinger
I got my questions answered at in under 10 minutes. Go to now for free help!
  • anonymous
I know it' been 10 days, but hopefully I can still help. The law of demand states that the demand curve has a downward slope; as the price of a product increases, the quantity demanded falls. This is because people are usually less willing to pay the higher price, whereas more people are willing to pay the lower price. An inelastic product does not follow this law of demand. An inelastic product means that when the price of an item changes, its quantity demanded does not (or changes very slightly). An example of this would be toothpaste or toilet paper. A person doesn't simply not brush his teeth or use the bathroom because the price of toothpaste and toilet paper has increased.

Looking for something else?

Not the answer you are looking for? Search for more explanations.