DIFFERENCE BETWEEN SUBSTITUTE GOODS AND COMPLEMENTARY GOODS
Substitute goods are those which can be used in place of each other for the satisfaction of some want e.g. tea and coffee, coke and limen Soda, etc. There is a direct relationship between the price of substitute goods and given commodity, other things remain constant and vice versa. It implies as the price of substitute goods increases, the quantity demanded of a given commodity starts increasing………
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