Asked by
Akash Patel
on Oct 09, 2024
Verified
Tennis rackets and ballpoint pens are:
A) substitute goods.
B) complementary goods.
C) inferior goods.
D) independent goods.
Substitute Goods
Products or services that can be used in place of one another, satisfying similar needs or desires.
Complementary Goods
are products or services that are used together, where the use or consumption of one increases the demand for the other.
- Ascertain the characteristics and impacts of products when they are complements or substitutes.
Verified Answer
CT
Learning Objectives
- Ascertain the characteristics and impacts of products when they are complements or substitutes.