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Econ Chapter 4: section 1-2 Quiz

  1.  
    demand
  2.  
    normal goods
  3.  
    complements
  4.  
    sustitute
  5.  
    inferior goods
Answer Key
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Econ Chapter 4: section 1-2 Quiz (Answer Key)

  1.  
    demand
    is the willingness to buy good or service and the ability to pay for it
  2.  
    normal goods
    goods that consumers demand more of when thier income rise
  3.  
    complements
    goods that are used together, so a rise in demand for the other
  4.  
    sustitute
    goods and services that can be used in place of each other
  5.  
    inferior goods
    goods that consumers demand less of when their income rise

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