Question

Differentiale between the complement good and substitute good with example

Answer 1

Answer:

Two goods (A and B) are complementary if using more of good A requires the use of more good B. For example, ink jet printer and ink cartridge are complements. Two goods (C and D) are substitutes if using more of good C replaces the use of good D. For example, Pepsi Cola and Coca Cola are substitutes.

Answer 2

The goods which are substitutable initial of some another commodity or goods to satisfy human wants are known as substitute goods

Eg:- Coffee and Tea

if we want to satisfy one want we require more than one combination of goods is know as complement goods

Eg:- Bike and Petrol

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