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Theory of consumer behaviour — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsTheory of consumer behaviour2 Marks
Question
Explain substitute and complementary goods through example.
✓

Answer

Substitute Goods : These are goods that can be used in place of each other to satisfy the same want. If the price of one rises, the demand for the other increases.
Example : Tea and Coffee.
Complementary Goods : These are goods that are consumed together to satisfy a specific want. If the price of one rises, the demand for the other decreases.
Example : Car and Petrol, Pen and Ink.

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