ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -When two goods are complements, they experience joint demand-the demand of one good is linked to the demand for another good. Therefore, if a higher quantity is demanded of one good, a higher quantity will also be demanded of the other, and vice versa.

Detailed explanation-2: -If two goods are complements, a decrease in the price of one good will cause the demand for the other good to decrease.

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: -Complementary goods are those goods that are used together to meet a particular need. For example, cars and petrol, tea and sugar.

Detailed explanation-5: -(iii) Joint or complementary demand: This refers to demand for commodities which are needed together to satisfy a want. There is joint demand for two commodities when they are such that without one, the other cannot satisfy a want e.g. car and petrol, torch and batteries etc.