Discover exceptions to the law of demand, like Giffen and Veblen goods, and understand why they don't disprove core economic principles.

In an era defined by economic uncertainty, one truth remains remarkably consistent: People still want what signals value, status, and meaning, sometimes because it costs more.

A Veblen good is a product that challenges conventional economic theory. Normally, when the price of something increases, demand tends to drop. But for Veblen goods, the opposite occurs — demand ...