Define substitute goods and complementary goods . give two examples each.
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Define substitute goods and complementary goods . give two examples each.
Define substitute goods and complementary goods . give two examples each.
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Answer:
Complementary goods are those goods which are consumed or used together like tennis ball and racquet, petrol and car ,etc.
Goods which are perceived by the consumer to be alternative to each other are termed as the substitute goods for example butter and margarine and petroleum and natural gas.