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प्रश्न
With suitable examples differentiate between complementary goods and substitute goods.
उत्तर
Substitute goods are goods which can be used in place of one another for the satisfaction of a particular want. Demand for a commodity varies directly with the price of a substitute good, say coffee and tea.
Complementary goods are goods which are used together to satisfy a particular want. Demand for a commodity varies inversely with the price of a complementary good, say computer hardware and software.
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संबंधित प्रश्न
Explain clearly two factors which determine demand.
The wide gap between the rich and poor with reference to income highlights ______ determinant of the market demand.
What will be the effect on demand for tea, if the price of coffee falls?
What will be the effect on demand for cars, if petrol becomes expensive?
Explain any four factors which determine the market demand.
State 2 types of related goods.
Define substitute goods.
Give two examples of substitute goods.
Define complementary goods.
Give two examples of complementary goods.
