Economy, asked by Anonymous, 1 year ago

subsitute goods and complementry goods

Answers

Answered by Anonymous
6
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....
Answered by Anonymous
2
\textbf{Substitute Goods }

These are those goods which can be interachangeable to each other.

Price and demands of these rise in proportion.

\textbf{Complementary Goods }

Those goods which complete the demand of each other.

They are inversely proportional to need and price.
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