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प्रश्न
If due to fall in the price of good X, demand for Y rises, the two goods are ______.
पर्याय
Substitutes
Complements
Not related
Competitive
उत्तर
If due to fall in the price of good X, demand for Y rises, the two goods are complements.
If the demand for good Y rises due to a fall in the price of good X, it indicates that the two goods are complements. Complementary goods are typically used together, so a decrease in the price of one leads to an increase in the demand for the other. For example, if the price of printers (good X) falls, the demand for ink cartridges (good Y) may rise, as more people buy printers and also need cartridges.
संबंधित प्रश्न
State two factors affecting the market demand for a commodity.
Give one example of a pair of complementary goods.
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 do you mean by substitute goods?
Explain the impact on demand of complementary goods.
If price of X increases, then demand for Y too increases. What is the relationship between goods X and Y? Give an example.
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.
Explain how quantity demanded for commodity X will be affected by Consumer credit facility.
Explain how quantity demanded for commodity X will be affected by Government policy.
What do you mean by a normal good?
What is demand function?
Explain any four factors affecting the demand for a commodity.
Give two examples of substitute goods.
Define complementary goods.
Give an example of inferior goods.
Give an example of Giffen goods.
