0
A complementary good.
Substitute and complementary goods are determined by cross elasticity of demands.
A substitute good has positive cross elasticity: the mercantile characteristics of this good increase if the same characteristic of a different good decreases. If the only two drinks in the world were Orange Juice and apple juice and the price of orange juice went up (causing concomitant reduction in demand for it), the demand for apple juice would increase.
A complementary good has negative cross elasticity: the mercantile characteristics increase if the same characteristic of the complementary good also increases. Maybe if the demand for salami increased the demand for bread would also increase because most people who buy salami eat it on Sandwiches.
Obviously these are both classroom theoreticals because a lot of things go into determining demand for an item...the demand for salami could increase without a concomitant increase in demand for bread because people have found salami makes a great salad ingredient, or the demand for peanut butter could increase without a similar increase in jelly demand if everyone makes peanut butter cookies.
What else can I help you with?
What is a good substitute for mayonnaise in tuna salad?
Plain yogurt is usually a good substitute for mayo.
Is finding a substitute a good option for this situation?
Yes, finding a substitute is a good option for this situation.
Why does demand for substitutes tend to move in the opposite direction from each other?
Answer this question… A. When the price of a good goes up, consumers shift their demand to its substitute. B. Substitute goods have perfect unit elasticity for each other. C. Substitute goods tend to have inelastic demand. D. One of the substitutes is usually elastic, while the other is inelastic.
What is the difference between a substitute good and a complementary good?
A substitute good is one that can be used in place of another good whereas a complementary good is one that is used together with another good.
What is the difference between a complementary good and a substitute good?
A complementary good is one that is typically used together with another good, while a substitute good is one that can be used in place of another good.
What is an example of a substitute good?
scapes substitute
What is a good substitute for chayote in a recipe?
A good substitute for chayote in a recipe is zucchini.
What is a good substitute for vinegar in a recipe?
Lemon juice is a good substitute for vinegar in a recipe.
What is substitute goods?
Good that can be used in place of another good.
What is a good substitute for mayonnaise in tuna salad?
Plain yogurt is usually a good substitute for mayo.
Is finding a substitute a good option for this situation?
Yes, finding a substitute is a good option for this situation.
What is a good baking substitute for vegetable oil?
A good baking substitute for vegetable oil is applesauce.
What is a good substitute for beer in chili?
A good substitute for beer in chili is beef or vegetable broth.
What is a good substitute for the fixative used on charcoal or pastel drawings?
Hair spray is a pretty good substitute.
What is a good substitute exercise for the pendulum squat?
A good substitute exercise for the pendulum squat is the goblet squat.
What is a good keto-friendly substitute for cornstarch?
Arrowroot powder is a good keto-friendly substitute for cornstarch.
What is a good substitute for Chinkiang vinegar in a recipe?
A good substitute for Chinkiang vinegar in a recipe is balsamic vinegar.
