Flashcard sets with a 'substitution effect' term meaning 'when the price of a product rises, people tend to buy less of that product and buy a cheaper substitute instead.'

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1-1 of 1Flashcard sets with a 'substitution effect' term meaning 'when the price of a product rises, people tend to buy less of that product and buy a cheaper substitute instead.'
# Title Terms Date
1Economics chpt 3&4by kp13417020 termsOctober 23, 2009
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