RED chapter key terms 0.0 / 5 ? EconomicsIGCSEEdexcel Created by: zumosuCreated on: 02-05-13 17:02 Market a set of arrangements allowing buyers and sellers to communicate and exchange goods and services 1 of 6 Demand curve a line drawn on a graph which shows how much of a good will be bought at different prices 2 of 6 Complementary goods goods purchased together because they are consumed together 3 of 6 Substitute goods goods bought as an alternative to another but perform the same function 4 of 6 Normal goods a good for which demand will rise, if income rises and fall if income falls 5 of 6 Inferior goods a good which demand will fall if income rises, or rise if income falls 6 of 6
Comments
No comments have yet been made