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5 Cards in this Set
- Front
- Back
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Ceteris paribus |
A Latin phrase that means all other thing held constant |
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Normal good |
A good that consumers demand more of when their incomes increase |
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Inferior good |
A good that consumers demand less of when their income increase |
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Complements |
Two goods that are brought and used together |
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Substitutes |
Goods used in place of one another |
