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प्रश्न
Explain the impact on demand of complementary goods.
उत्तर
Complementary goods are goods that are typically used together, meaning that the consumption of one good enhances the consumption of the other. Examples include cars and gasoline, printers and ink cartridges, or mobile phones and SIM cards. The demand for complementary goods is interconnected, and changes in the price or demand for one good can significantly impact the demand for its complement.
The demand for complementary goods is closely linked. Changes in the price, availability, or attractiveness of one good directly affect the demand for its complement. Understanding this relationship is crucial for businesses and policymakers as they consider pricing strategies, market conditions, and economic policies.
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संबंधित प्रश्न
Which of the following is not a determinant of demand?
The demand for a Good X increases when the price of its substitute ______ OR when the price of its complements ______.
Assertion (A): The statement 'A consumer buys 2 litres of milk everyday at a price of ₹50 per litre of milk' is demand statement.
Reason (R): The demand for a commodity is always expressed with references to price and time.
What are inferior goods?
What do you mean by substitute goods?
Differentiate between Giffen goods and inferior goods.
Explain any three determinants of market demand.
Explain how quantity demanded for commodity X will be affected by An increase in the price of its substitute.
Give the meaning of Price demand.
Car and petrol are examples of ______ demand.
