Term
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Definition
| Two goods for which an increase in the price of one leads to a decrease in the demand for the other. |
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Term
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Definition
| A good for which, other things equal, an increase in income leads to a decrease in demand. |
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Term
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Definition
| A good for which, other things equal, an increase in income leads to an increase in demand. |
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Term
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Definition
| Two goods for which an increase in the price of one leads to an increase in the demand for the other. |
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Term
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Definition
| The claim that, other things equal, the quantity demanded of a good falls when the price of the good rises. |
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Term
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Definition
| The claim that, other things equal, the quantity supplied of a good rises when the price of the good rises. |
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