information:extraction, linguistic:translation
Exceptions to the law of demand

The elasticity of demand follows the law of demand and its definition. However, there are goods and specific situations that defy the law of demand. Generally, the amount demanded of a good increases with a decrease in price of the good and vice versa. In some cases this may not be true. There are certain goods which do not follow the law of demand. These include Giffen goods, Veblen goods, basic or necessary goods and expectations of future price changes. Further exception and details are given in the sections below: