subsitute goods and complementry goods
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Heya......
Subsitute goods....
* These r those goods which can be interchangeable to each one...
* When price rises of these goods demand for for given good rises and vice versa...
* Example... tea and coffee....
Complementary goods....
* Those goods which complete the demand of each one...
* Have inverse relationship between the demand of given good....
* Example... car and petrol....
Subsitute goods....
* These r those goods which can be interchangeable to each one...
* When price rises of these goods demand for for given good rises and vice versa...
* Example... tea and coffee....
Complementary goods....
* Those goods which complete the demand of each one...
* Have inverse relationship between the demand of given good....
* Example... car and petrol....
Answered by
2
These are those goods which can be interachangeable to each other.
Price and demands of these rise in proportion.
Those goods which complete the demand of each other.
They are inversely proportional to need and price.
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