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It depends how you define cheaper. If you buy full packets of ingredients, but only use a small quantity of each of the ingredients for the pancakes, and look at what the cost of that small quantity would have been, it works out cheaper to buy the ingredients. However if you look at the cost of buying the full amount of ingredients, packet mix is cheaper. So if you buy the ingredients and intend to use the entire quantity of all of them, it works out cheaper than packet mix.

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