Advertisements
Advertisements
Question
A substitute good is a good:
Options
Of higher quality than another good
That is not used in place of one another
That can be used in place of one another
Of low lower quality than another good
Advertisements
Solution
That can be used in place of one another
APPEARS IN
RELATED QUESTIONS
With help of an example explain the term complementary goods.
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:
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.
