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5 Cards in this Set
- Front
- Back
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Ceteris paribus |
Latin for "all other things held constant" |
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Normal goods |
Goods that consumers demand more of when their incomes increase |
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Inferior goods |
Goods that consumers demand less of when their incomes increase |
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Complements |
Two goods that are bought and used together |
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Substitutes |
Goods used in place of one another |
