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10 cards from this deck
Satisfaction/well-being from consuming goods and services
Demand of each consumer for a particular good/service
Rising house prices make homeowners feel wealthier, boosting spending
1.5% increase in consumption (long term)
Goods that replace each other (e.g., butter/margarine, tea/coffee)
Demand for the other substitute increases
Goods used together (e.g., iPhones/cases, cars/petrol)
Demand for both goods increases
Necessities low sensitivity; luxuries high sensitivity
Builds brand loyalty, reducing price sensitivity
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