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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 the difference between gross complements and net complements in economics?
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What is the difference between MSc Economics and MA Economics?
what is difference between msc economics and ma economics
What is the Difference between economics and manegrial economics?
difference between economics and managerial economics
What is the difference between gross complements and net complements?
Gross complements refer to the total number of complements, while net complements are the complements left after subtracting any duplicates or overlaps.
What is the difference between economy and economics?
The difference is that Economy is a system and Economics is the study of something.
What is the difference between gross complements and net complements in economics?
C====3
What is the difference between MSc Economics and MA Economics?
what is difference between msc economics and ma economics
What is the Difference between economics and manegrial economics?
difference between economics and managerial economics
What is the difference between gross complements and net complements?
Gross complements refer to the total number of complements, while net complements are the complements left after subtracting any duplicates or overlaps.
Discuss the difference between economics and natural science?
i want to know the difference between economics and natural sciences
What is the difference between economy and economics?
The difference is that Economy is a system and Economics is the study of something.
What is difference between economics and economy?
The difference is that Economy is a system and Economics is the study of something.
What is the difference between descriptive economics and applied economics?
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.
What is the difference between comparative economics and comparative economic system?
The different between them is that the word economics and economic.
What is the difference between internal economics and external economics?
Internal economics is what come from inside the external economics what come from outside
Give the differences between micro and macro economics?
ten difference of micro economics macro economics
How does the concept of complements and substitutes in microeconomics impact consumer behavior and market dynamics?
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.
