Which of the following is the exception to the law of demand:

CA Foundation · Business Economics · MTP · June 2024
Which of the following is the exception to the law of demand:
(A) A. Speculative goods
(B) B. Conspicuous necessities
(C) C. Future expectation about prices
(D) D. Income effect

Suggested Answer and Working Notes:

Correct Answer: Option (D)

D. Income effect

Topics: Theory of Demand and Supply

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