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An economy is formed by different markets and supported by the country or a particular region
The level of demand that represents a real intention to purchase by people with the means to pay.
Any goods for which demand increases when the income increases and falls when the income decreases but price remains constant
An inferior good is the opposite of a normal good, which experiences an increase in demand along with increase in the income level.
One kind of good (or service) is said to be substitute good for another kind of insofar as the two kinds of good can be consumed or used inlace of one another in at least the same of their possible uses.
A complimentary good, in contrast to a substitute good, is a good with a negative cross elasticity of demand.
used to assign the available resources in an economic way. Its part of resources management.
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