Question

What is substitute goods an example ?? 3 points in reference of economy!

Answer 1

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

Answer 2

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