Substitute Vs Complementary goods

Substitute Vs Complementary goods

Economics

Inyang Umoh (tutor)
05-02-2016 06:50:00 +0000

One concept you can expect to be asked about is the difference between substitute and complementary goods.

Substitute Good
The official definitions of a substitute good is a good that can be purchased as a substitute for another. An example of a substitute good would be garri and fufu. There is also the related concept of a perfect substitute. A perfect substitute is one that, in the eyes of the customer, are the same. An example of a perfect substitute would be bic and biro pens.

Complementary Goods
The official definitions of Complementary goods are goods that are usually purchased together. For example milo and milk.

Can you give other examples of complementary and substitute good?

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Adesanya Yewande Adewunmi

Substitute goods are waw detergent and bimbo detergent, while complementary goods are bread and butter

0 05-02-2016 07:01:00 +0000

Olasunkanmi Sodik

sand with cement

0 05-02-2016 07:08:00 +0000

HELEN SYLVESTER

Complementary goods- book and pen.

0 05-02-2016 07:17:00 +0000

Efoke Deborah

Complementary goods-torch and battery

0 05-02-2016 07:23:00 +0000

Ayiloye kayode

SUB: Pepsi and coke, 5alive and chivita, Fangirl and Golden penny, Mama gold and Semovita, Maltina and Malta guiness. COMP: petrol and car, sickness and drugs, cold-water and freezer, football and players, food and plates, pounded yam and mortar. etc.

0 06-02-2016 10:14:00 +0000