In economics, substitutes are products that can be used in place of each other, while complements are products that are used together. Substitutes have a negative relationship in demand, meaning when the price of one goes up, the demand for the other increases. Complements have a positive relationship in demand, meaning when the price of one goes up, the demand for the other decreases.
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what is difference between msc economics and ma economics
difference between economics and managerial economics
Gross complements refer to the total number of complements, while net complements are the complements left after subtracting any duplicates or overlaps.
The difference is that Economy is a system and Economics is the study of something.
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what is difference between msc economics and ma economics
difference between economics and managerial economics
Gross complements refer to the total number of complements, while net complements are the complements left after subtracting any duplicates or overlaps.
i want to know the difference between economics and natural sciences
The difference is that Economy is a system and Economics is the study of something.
The difference is that Economy is a system and Economics is the study of something.
there is no difference between them. In both cources , you have to study the same things. applied economics includes some more study than general economics.
The different between them is that the word economics and economic.
Internal economics is what come from inside the external economics what come from outside
ten difference of micro economics macro economics
The concept of complements and substitutes in microeconomics affects consumer behavior and market dynamics by influencing how consumers make choices between different products. Complements are products that are used together, while substitutes are products that can be used in place of each other. When the price of a complement or substitute changes, consumers may adjust their purchasing decisions, which can impact demand and prices in the market. This can lead to shifts in market dynamics and competition among producers.