Advertisements
Advertisements
प्रश्न
What will be the effect on demand for tea, if the price of coffee falls?
उत्तर
If the price of coffee decreases, so will the demand for tea, since tea and coffee are substitute items. When the price of coffee falls, consumers eat less tea and more coffee. Thus, tea demand will decrease.
APPEARS IN
संबंधित प्रश्न
With help of an example explain the term complementary goods.
Explain clearly two factors which determine demand.
If a buyer buys less of a commodity when his income falls, how will his demand curve change? Illustrate your answer with a diagram.
Identify the factor that affects market demand from the options below:
A substitute good is a good:
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.
