Goods which demand falls when income rises. E.g. Bus journeys. As people's incomes rise, they can afford to buy their own vehicles and the demand for bus journeys falls.
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Other cards in this set
Card 2
Front
What relationship exists between price and supply?
Back
Positive correlation
Card 3
Front
What are two factors that cause the supply curve to shift?
Back
Card 4
Front
What is effective demand?
Back
Card 5
Front
What are two factors that causes demand curve to shift?
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