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4 Cards in this Set
- Front
- Back
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Substitutes
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Goods that can replace each other to some extent so that greater consumption of one good can mean less of the other
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Complements
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Goods can replace each other to some extent, so that greater consumption of one good can mean less of the other
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Normal goods
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Goods where the quantity demanded rises as income rises
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Inferior goods
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Goods where the quantity demanded falls as income rises
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