The Perverse Demand Schedule

The perverse demand schedule is one that slopes upwards from left to right.

• The > the Price the > the demand - this does't obey the laws of demand.
• A perverse demand schedule can only happen in the case of Giffen and Veblen goods.

Veblen goods
Are goods based on the theory of conspicuous consumption. Where consumers believe that the > the price the > the quality and therefore are willing to spend more. Examples of this are perfume and cars.

Giffen goods