| A | B |
|---|
| ceteris paribus | a Latin phrase that means "all other things held constant" |
| normal good | a good that consumers demand more of when their incomes increase |
| inferior good | a good that consumers demand less of when their incomes increase |
| demographics | the statistical characteristics of populations and population segments, especially when used to identify consumer markets |
| complements | two goods that are bought and used together |
| substitutes | goods that are used in place of one another |
| snowboard and boots | two goods that are complements because they are bought and used together |
| demand curve shifts to the left | when factors other than price cause demand to fall |
| demand curve shifts to the right | when an increase in demand appears |
