Question:
What do you understand by substitute goods and complementary goods?
What do you understand by substitute goods and complementary goods?
Show Hint
Substitute goods can replace each other, while complementary goods are used together.
Updated On: Nov 5, 2025
Show Solution
Verified By Collegedunia
Solution and Explanation
- Substitute Goods: Goods that can replace each other, such as tea and coffee.
- Complementary Goods: Goods that are used together, such as printers and ink cartridges.
Was this answer helpful?
0
0
Top UP Board XII Economics Questions
- Which one of the following is true? When the marginal utility becomes negative:
- Which one of the following is true? The total variable cost is equal to:
- In a mixed economy, decisions related to production and consumption are taken by:
- The statement 'Other things being constant, an increase in money supply will increase the price level.' is related to:
- Which one of the following is true? In a perfectly competitive market, the:
View More Questions
Top UP Board XII Consumer theory Questions
- Which one of the following is true? When the marginal utility becomes negative:
- Which one of the following is true? In a perfectly competitive market, the:
- ‘Higher indifference curve represents higher level of satisfaction.’ Explain.
- Differentiate between Normal goods and Inferior goods.
- Explain the law of diminishing marginal rate of substitution in indifference curves, with the help of diagram.
View More Questions
Top UP Board XII Questions
- In which one of the following States of India is the density of population the highest?
- Which one of the following States of India has the largest urban population?
- Which one of the following States is not related to the production of mineral oil?
- Which one of the following sea ports is located on the eastern coast of India?
- What is meant by ‘Humanisation of Nature’?
View More Questions