What is substitute goods an example ?? 3 points in reference of economy!
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Heya....
====== Substitute goods ======
• These are the goods that can be interchanged with each other...
• If one good is not available or expensive we can use its subsitute...
______ With reference to economy ____________
• It is just used to as a determinant of demand...
• If the price of the subsitute good falls then consumer will shift to the subsitute and the demand if given good falls and vice versa...
____________ Example _______
• Tea and coffee
• Pepsi and Coke
• Maggi or Pasta ...
Thank you
====== Substitute goods ======
• These are the goods that can be interchanged with each other...
• If one good is not available or expensive we can use its subsitute...
______ With reference to economy ____________
• It is just used to as a determinant of demand...
• If the price of the subsitute good falls then consumer will shift to the subsitute and the demand if given good falls and vice versa...
____________ Example _______
• Tea and coffee
• Pepsi and Coke
• Maggi or Pasta ...
Thank you
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0
Answer:
Heya....
Substitute goods
. These are the goods that can be interchanged with each other...
• If one good is not available or expensive we can use its subsitute...
With reference to economy
.It is just used to as a determinant of demand...
• If the price of the subsitute good falls then consumer will shift to the subsitute and the demand if given good falls and vice versa...
Example
• Tea and coffee
• Pepsi and Coke
• Maggi or Pasta ...
Thank you
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