Curated OER
How E-Commerce Influences Consumer Choice
Class members gather information on different brands of athletic shoes to determine which is the best buy. They identify a toy they would like to buy, and gather comparative information from a store, a catalog, and three websites.
Curated OER
Why Do I Want All This Stuff?
Students identify two factors that determine consumer demand as well as substitutes and complements for selected goods and services. After examining advertisements, they distinguish between fact and opinion and explore the factors that...
Auburn University
Auburn University: A Glossary of Political Economy Terms: Substitute Goods
Dr. Johnson thoroughly explains the concept of "substitute goods," and how a price increase of one good will shift the demand curve for a substitute good.
Robert Schenk, PhD
More About Demand
This essay provides a good description of normal goods, inferior goods, substitutes, and complements, and how these are each related to the law of demand.