When calculating a percentage change, remember to?
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Card 7
Front
What is a substitute?
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Card 8
Front
The greater the number of substitutes and the greater their closeness, then the likelihood is that such a product will be?
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Card 9
Front
If a product takes a very small proportion of a persons income e.g. a banana - demand is likely to be ?
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Card 10
Front
If a product takes up a very large proportion of a persons income e.g. a holiday, demand is likely to be?
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Card 11
Front
If a good is broadly defined i.e. the demand for petrol or meat, demand is often?
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Card 12
Front
In the short term, most consumers find it ____ to alter their spending habits - this means they are quite likely to continue to purchase a product despite a price increase.
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Card 13
Front
Over time, as consumers find out more about possible ________, demand for a product is likely to be more _____ ____.
