Multiple Choice Questions on If the price of good X rises and it leads to an increase in demand for good Y both are goods ........ for Common University Entrance Test (CUET) Preparation

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Multiple Choice Questions

If the price of good X rises and it leads to an increase in demand for good Y both are goods ........

Economics (CUET) Consumer Behaviour and Demand
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    If the price of good X rises and it leads to an increase in demand for good Y, both are................goods

    Substitutes

     

    Correct Answer

    Complementary

     

    Incorrect Answer

    Normal
     

    Incorrect Answer

    Inferior

    Incorrect Answer
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    Explanation:

    Option (1) is correct.
    Explanation: When the goods can be used instead of the other they are termed as substitutes. That is the increase in the price of one will lead to a increase in the demand of
    another. For eg: Tea and Coffee

    By: Parvesh Mehta
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