Substitute Goods And Complementary Goods. They are goods that are in competitive demand a rise in. Substitute goods are two alternative goods that could be used for the same purpose.
On the other hand complementary goods are two or more. Substitute goods or simply substitutes are products which all satisfy a common want and complementary goods simply complements are products which are consumed. The major difference in both terms is that substitute goods are independent of each other whereas complementary goods are inter dependent on each other.
On the other hand complementary goods are two or more.
Substitute goods or simply substitutes are products which all satisfy a common want and complementary goods simply complements are products which are consumed. If price of one good decreased the demand would. They are goods that are in competitive demand a rise in. Substitute goods are two alternative goods that could be used for the same purpose.
