4-2 vocabulary jw Word Scramble
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| Question | Answer |
| States that the marginal benefit of using each additional unit of a product during a given period will decline. | Law of dimishishing utility |
| The change in the amount that consumers will buy because the purchasing power of their income changes. | Income effect |
| A change in the amount that consumers will buy because they buy substitute goods instead. | Subsitution effect |
| An increase or decrease in the amount demanded because of change in price. | change in quantity demanded |
| Occurs when something prompts consumers to buy different amounts at every price. | Change in demand |
| Goods that consumers demand more of when their income rises. | Normal Goods |
| Goods that consumers demand less of when their incomes rise. | Inferior goods |
| Goods and services that can be used in place of each other. | Substitutes |
| Goods that are used together, so a rise in demand for one increases the demand for the other. | Complements |
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joannw15
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