Practice - Substitutes and Complements
Enroll to start learning
You’ve not yet enrolled in this course. Please enroll for free to listen to audio lessons, classroom podcasts and take practice test.
Practice Questions
Test your understanding with targeted questions
What are substitute goods?
💡 Hint: Think of goods that serve a similar purpose.
Give an example of complementary goods.
💡 Hint: Consider items that are often used together.
4 more questions available
Interactive Quizzes
Quick quizzes to reinforce your learning
What happens to the demand for tea if the price of coffee increases?
💡 Hint: Think about consumer choices when prices rise.
True or False: Complementary goods have a demand that moves in the same direction as price changes.
💡 Hint: Recall the definition of complementary goods.
Get performance evaluation
Challenge Problems
Push your limits with advanced challenges
Considering the market for shoes and socks, analyze how an increase in sock prices might affect shoe sales.
💡 Hint: Think about how these items are used together.
Evaluate the impact of a promotional discount on tea prices on coffee sales.
💡 Hint: Consider the behavior of price-sensitive consumers.
Get performance evaluation
Reference links
Supplementary resources to enhance your learning experience.