Complementary Goods and Substitute Goods.
A complementary good or complement is a good with a negative cross elasticity of demand, in contrast to a substitute good.
Substitute goods are two goods that could be used for the same purpose. If the price of one good increases, then demand for the substitute is likely to rise.
A complementary good or complement is a good with a negative cross elasticity of demand, in contrast to a substitute good.
Substitute goods are two goods that could be used for the same purpose. If the price of one good increases, then demand for the substitute is likely to rise.