ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Items that people tend to buy more of when their incomes increase. This is true of most goods and services.
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Items that people purchase more of when their incomes decrease. These items tend to be low-cost options for saving money.
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Items that may replace each other when used or consumed.
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Items that are almost always consumed or used together.
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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. Some things are more complementary than others.
Detailed explanation-2: -Difference between Substitute Goods and Complementary Goods Substitute goods may be used in lieu of one another to meet a certain need. Complementary Items, on the other hand, are goods that are eaten jointly to meet a certain need.
Detailed explanation-3: -Cars and petrol are complementary goods since when the price of the petrol increases then the demand for cars fall.
Detailed explanation-4: -Meaning of Complementary Goods An object used in combination with another product or service is a complementary good or service. Usually, when consumed alone, the complementary good has little or no value. Still, when paired with another good or service, it adds value to the overall value of the bid.
Detailed explanation-5: -1:Complementary goods are those that provide the satisfaction of a want or need when consumed together.