Question

what are inferior goods and complementary goods ? explain with an example.

Answer 1

The goods that demand rises with fall in consumer income and demands fall with the rise in consumer income are called inferior goods .
Those goods that are used together so are jointly demanded are called complementary gpods .
For example ;Let us assume there are two consumers of mobile A and B and at present income consumer A is using micromax brand and consumer B is using Samsung brand . when there is rise in income of both consumer A starts to use Samsung brand and B starts to use iPhone. It means Samsun brand is complementary goods for consumer A and inferior goods for consumer B