If the price of commodity X rises and consumers shift to commodity Y, then commodities X and Y are
Source: JAMB · 2024
If the price of commodity X rises and consumers shift to commodity Y, then commodities X and Y are
Explanation
Substitutes are goods that can replace each other. When one gets expensive, people switch to the other.
Complements are bought together, like bread and butter. Inferior goods are about income changes, not price.
Tea and coffee are classic substitutes. If tea price rises, people buy more coffee.
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