what is the meaning of articles of social distinction , which are the exceptions to the law of supply?

Articles of Social Distinction mean those goods which are highly valuable or priceless and their supply cannot be increased even if a high price is being offered for them..

E.g- 'Kohinoor Diamond'.. Can you increase its supply even if Million trillions are offered for it?

:) Good luck!

  • 19
It is one of the exeptions of law of demand. 
goods like gold jewlery their demand is high due to their price if the price falls the demand also falls which is positive relationship b/w price and quantity but law of demand states that there is inverse relation ship b/w price and demand.


u can also get by its name social distinction those which make distinct from others like wearing jewelry of diamond and gold
 
  • -5
The various Exceptions to law of supply are:

1. Future expections
2. Agricultural goods
3. Perishable goods
4. Rare Articles
5. Backward countries
  • -1
Hey akshay if price of gold decreases the people buy more gold then how its a exception of law of demand
  • 0
Those articles are demanded only because their price are very high. Eg: diamonds, vintage car etc.

  • 0
Rrug
  • -1
What are you looking for?