Does the Following Condition Violate the Law of Demand? Explain

question 51

Essay

Does the following condition violate the law of demand? Explain your answer.
"The number of iPhones sold last year was more the than the number of Nokia smartphones sold in the same period, even though the price of iPhones was more than twice of the price of Nokia smartphones."

---

Definitions:

Incentive Compensation

A form of remuneration designed to reward employees for achieving specific performance targets or objectives, often aimed at motivating higher levels of productivity.

Annual Salary

The total amount of money a person earns from their job in a year, often expressed as a pre-tax figure or before deductions.

Job Enrichment

A job design strategy intended to enhance employee satisfaction and performance by adding tasks that increase the job’s depth or meaningfulness.

Job Enlargement

A method of job design that increases the range and variety of tasks performed by an employee to enhance job satisfaction.