business 0.0 / 5 ? Business StudiesEconomic growthASEdexcel Created by: cardozaeCreated on: 15-11-15 18:54 what is effective demand the combination of desire for a product or service with the ability and readinesss to pay 1 of 6 consumer sovereignty? suggests that consumers control resource use by deciding what to buy. 2 of 6 advertisting and branding? are attempts by businesses to influence demand by changing consumer tastes. strong brands have an advantage over unkown alternatives 3 of 6 complementary goods when two things are used together we call them complemntary goods 4 of 6 substitutes are alternatives of a product. Sometimes there are close substitutes 5 of 6 taste taste involves consumer preferences for specific products. These are likely to change over time and be influenced by factors such as fashion. 6 of 6
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