Question

Distinguish between the following.normal and inferior goods=substitute goods and complementary goods

Answer 1

Answer:

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Explanation:

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Answer 2

Answer:

#normal goods are those goods whose demand increases with increase in income.

#inferior goods are those goods whose demnd decreases with decrease in income.

#substitute goods are those goods which can be intechanged if pprice for one good increases. for example: tea and coffee

# complementory goods are those goods which are needed for one another . if price pf one good increases then demand for second good also increase. for example: pen and ink , car and diesel etc

Explanation:

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