ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Office supply stores often sell printers and ink cartridges together as complementary goods. Ink cartridges on their own are not worth much, and a printer needs the ink to work. Packaging these two together goes as naturally as peanut butter and jelly.

Detailed explanation-2: -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-3: -Printers and printer ink are complementary goods. If the price of printers rises, what will likely happen to the demand for printer ink, and why is this the case?

Detailed explanation-4: -Complementary goods: Complementary goods are those goods which are used together to satisfy a given want. They are demanded jointly, e.g., car and petrol, pen and ink. In case of complementary goods, an increase in the price of one good causes a decrease in the demand of the other good.

Detailed explanation-5: -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.