Download App

Elementary Theory of Demand — Economics STD 10 — Question

ICSE BoardEnglish MediumSTD 10EconomicsElementary Theory of Demand2 Marks
Question
With suitable examples differentiate between. complementary goods and substitute goods.
✓

Answer

Substitute goods are those goods which can be used in place of one another.
Examples: (i) Pepsi and Coca-Cola (ii) Tea and Coffee
Complementary goods are those goods which are consumed (or used) together to satisfy a given want.
Examples : (i) Tea and Sugar (ii) Bread and Butter

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "[2 Mark Question Answer]" from Elementary Theory of Demand→Elementary Theory of Demand — all question types→Economics STD 10 question papers→ICSE Board STD 10 question papers→ICSE Board question paper generator→

Similar questions

What is the impact of inflation on wages and salaried class people?
→
Differentiate between individual demand schedule and market demand schedule.
→
Define an indirect tax with the help of one example.
→
Give two main features of a tax.
→
With the help of an example explain the term productive debt.
→
Explain two methods of accepting deposits by the commercial banks.
→
Define public revenue.
→
State the impact of each of the following changes on the demand curve of a commodity:
(i) Increase in individual income
(ii) A rise in the price of the commodity
(iii) Increase in the supply of a substitute commodity
iv) Increase in the price of a complementary commodity
→
What is public finance in its normative aspect?
→
Distinguish between tax and price.
→