How are goods X and Y when as a result of rise in the price of good X demand for good Y increases ........

How are goods X and Y when, as a result of rise in the price of good-X , demand for good-Y increases ?

Substitute goods

Complementary goods

Normal goods

Inferior goods

- When the price of Good X rises, and the demand for Good Y increases, it suggests that consumers are opting for Good Y as an alternative.

- Option 1: Substitute goods

- ?? These are goods that can replace each other.

- Correct answer: When the price of one goes up, demand for the other goes up.

- Option 2: Complementary goods

- These are goods typically used together.

- When the price of one rises, demand for the other usually decreases.

- Option 3: Normal goods

- These are goods whose demand increases as consumer income rises.

- Not directly related to changes in the price of another good.

- Option 4: Inferior goods

- These are goods whose demand decreases as consumer income rises.

- Again, not related to price changes of other goods.

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