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Unformatted text preview: how much the market economy makes. inferior goods- goods that you buy less of as you make more money normal goods- goods that you buy more of as you make more money Example of inferior goods: hamburger meat, bus passes, cubic zirconia, and spam *Remember for tests 2) Price of related goods- Substitutes- replace a previous good Complements- go well with another good 3) Consumer tastes and expectations- What the buyer likes or expects from a good or service 4) Number of consumers- An increase in the number of consumers, will cause the demand curve to shift right. In the same way, a decrease in the number of consumers will cause the demand curve to shift left....
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This note was uploaded on 04/18/2008 for the course ECO 2023 taught by Professor O'gorman during the Spring '08 term at South Florida Community College.
- Spring '08
- Supply And Demand