Define substitute goods?
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substitute goods are good which , as a result of changed conditions ,may replace each other in use or consumption. A substitute goods in contrast to complementary goods
is a goof with positive cross elasticity of demand conversely the demand for good is decreased when the price of another good is decreased
hope it helps you
is a goof with positive cross elasticity of demand conversely the demand for good is decreased when the price of another good is decreased
hope it helps you
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Substitute goods are those goods which can be used in place of one another for satisfaction of a particular want .
E.g - Tea and coffee , Pen and pencil , etc ...
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