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What is the difference between substitute and complimentary goods?
Wiki User
∙ 9y ago
The difference between substitute and complimentary is-
-> A substitute is something used instead of a particular good or service, eg. for dinner , if you decide to eat beef instead of eating chicken because they bioth have protein, this is a substitute. If the price of chicken then increases, more people would be willing to buy beef since it is cheaper..
-> Complimentary items are used in conjuction to each other, in other word, you need to buy both for something to typically work. eg. peanut butter and jelly are used in conjuction to each other and there fore are complimentary items. so if the price of peanut butter then increases, more people will decrease in buying both peanut butter and jelly because they are typically purchased together.
Wiki User
∙ 9y ago
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What are complimentary goods?
Complimentary means free Einstein. I hope someone gives you a complimentary dictionary.
What is the difference between a consumer and a producer substitute economics?
A consumer substitute refers to two goods that are alternative choices for a consumer for example Coke and Pepsi. A producer substitute refer to products that are alternative choices for producers and could have been produced using the same resources for example wheat and barley.
When consumers get more money they tend to substitute normal goods for what goods?
When consumers get more money, they tend to substitute normal goods for _inferior_ goods.
Examples of substitute goods and complementary goods under supply?
tea and coffe are substitute goods tooth brush and tooth paste are complementary goods
What is the difference between economic and free goods?
The difference between free and economic goods is the fact that, free goods don't cost us anything to be able to have and economic goods cost us to be able to get that service or good.
Changes in demand are caused by each?
1. change in prices 2. change in price of substitute goods 3. change in price of complimentary goods 4. change in taste and preferences
What are complimentary goods?
Complimentary means free Einstein. I hope someone gives you a complimentary dictionary.
How do you increase revenue for complementary goods?
You don't get revenue on complimentary goods.
Difference between expenditure on final goods and expenditure on intermediate goods?
The difference between intermediate goods and final goods is in their nature. Intermediate goods are finished goods which can be used to make other good like wool. The final goods are sold to consumers like a woolen coat.
What is the difference between a consumer and a producer substitute economics?
A consumer substitute refers to two goods that are alternative choices for a consumer for example Coke and Pepsi. A producer substitute refer to products that are alternative choices for producers and could have been produced using the same resources for example wheat and barley.
What are the difference between white goods and brown goods of LG?
the color
The difference between revenue from sales and cost of goods sold?
Difference between revenue from sales and cost of goods sold is called "Gross profit".
When consumers get more money they tend to substitute normal goods for what goods?
When consumers get more money, they tend to substitute normal goods for _inferior_ goods.
What is a difference between freight and logistics?
The difference between freight and logistics is their meanings. Logistics manages the flow of goods, while freight refers to goods.
Examples of substitute goods and complementary goods under supply?
tea and coffe are substitute goods tooth brush and tooth paste are complementary goods
What is the difference between economic and free goods?
The difference between free and economic goods is the fact that, free goods don't cost us anything to be able to have and economic goods cost us to be able to get that service or good.
How do complements affect demand?
Because of complimentary goods demand increase.
