Question

Explain how demand For a given good is affected by change in price of substitute goods

Answer 1

Explanation:

1st if all you should know what are substitute goods.: the substitute goods are those goods which can be used in place of one another.

the demand for a good is affected by it's substitute good. for example: tea and coffee. if the price of coffee rises then the demand for tea also rises but if the price of coffee falls than the demand for tea also falls.

hope it will help you