ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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.

Detailed explanation-2: -(also complementary goods) MARKETING. products that are sold separately but that are used together, each creating a demand for the other, for example, computers and computer programs: Technology firms that specialize in one product now join forces with other companies that focus on complementary products or services.

Detailed explanation-3: -Complementary Goods. Meaning. Substitute Goods refers to the goods which can be used in place of one another to satisfy a particular want. Complementary Goods refers to those goods which are consumed together to satisfy a particular want.

Detailed explanation-4: -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-5: -Explaining Complementary Products These “ complements ”, as they are also referred to, are products used in combination with or as a consequence of using your products or services, so their price and demand are interrelated.