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Do think the Law of Demand accurately reflects most peoples behavior regarding certain purchases?
Wiki User
∙ 12y ago
no.law of demand does not accurately reflects most peoples behavior regarding certain purchases.as in purchasing basic life necessities no one behaves like that as explain in law of demand,one should always purchase basic necessities of life even at high price.the one who have money can purchase every thing at any price.if there is a fear of black marketing,war etc then one will purchase goods at high price.
Wiki User
∙ 12y ago
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