Asked by
Jalen Montes
on Nov 25, 2024Verified
Digital cameras and memory cards are
A) substitute goods.
B) complementary goods.
C) independent goods.
D) inferior goods.
Complementary Goods
Goods that are typically consumed together, such that the demand for one increases when the price of the other decreases.
Substitute Goods
Goods that can be used in place of each other, where an increase in the price of one leads to an increase in demand for the other.
Independent Goods
Products or services whose demand is not directly related to the demand for other goods; their consumption or purchase does not affect the consumption or purchase of other products.
- Grasp the link between complementary and substitute commodities and their influence on market trends.
Verified Answer
VM
Learning Objectives
- Grasp the link between complementary and substitute commodities and their influence on market trends.