ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Complementary goods are goods/services that are typically used together, for example keyboard and computers, tennis balls and rackets, and milk and cookies. When the price of a certain good decreases, the demand for its complementary good will increase.

Detailed explanation-2: -Complementary goods are products which are used together.

Detailed explanation-3: -What are complementary goods? Complementary goods are products that increase in value when the demand for relative products increases. For example, if the demand for cell phones increases, the demand for cell phone chargers might also increase. Complementary products also rely on pricing.

Detailed explanation-4: -Petrol and diesel as a pair of goods is an example of substitutes and other pairs are examples of complementary goods.

Detailed explanation-5: -A complement is something that completes or perfects. Her dress perfectly complements the shade of her eyes. They make a great couple; their personalities are a perfect complement to one another.