Definition of Goods - Micro-economics
- Created by: Emma
- Created on: 12-10-12 19:47
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Substitute good - Good that satisfy the same need
e.g Original Good is Coffee - Substitute Good is Tea
Original Good is a Car - Substitute would be a bike
Normal Good - Is a good which has a positive relationship between income and quantity demanded;
e.g
Complementary good - is something that the you must have for the original good to be valid/work;
e.g. Original Good is Cars…
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