How Substitutes and Complements Affect Demand
This video shows how changes in the price of a related good (a substitute or complement) can affect demand for a good. Decreases in the price of a substitute decrease demand for a good, while increases in the price of a substitute increase demand for a good. Conversely, decreases in the price of a complement increase demand for a good, while increases in the price of a complement decrease demand for a good.
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Пікірлер: 60
Brooo, I was losing my mind when I found your accounting work, but I didn’t know you do ECON too!?? You’re a goat 🐐!!!
@Edspira
3 жыл бұрын
Thank you my friend!
Should have more views! Very well explained.
Just the person I needed to help me with Economics! Thank you for the video!
Explained sooo well tysm !
This video supper helpful for my economic knowledge !!
thanks a lot it helped me a lot
Very good video. Thanks for the clear explanation!
Thank you so much for easy access to understand the difference!
@Edspira
4 жыл бұрын
You're very welcome!
Great Video! Very helpful!
Very much helpful....😀thanku sir
Thank you so much !
You’re a genius!!
Excellent !!
Good explanations..
Thank you sir!
Really nice explanation. Nice economics
very helpful. thank you
Thank you so much! You saved more than an hour for me :D
This is clutch thanks
Thank you for this ideas..I will use this for my report😄😄
@Edspira
6 жыл бұрын
Nice!
It is really helpful , Thank you so much
@Edspira
6 жыл бұрын
No problem. Take Care!
Thank you🙏🏻
In the case of pasta and pasta sauce, what if the demand for pasta increases, leading to an increase in price? Will this decrease the demand for pasta sauce? Or will it still increase the demand for pasta sauce as they have a joint demand?
Thank you so much its clear now !!
@Edspira
2 жыл бұрын
Glad it helped!
Very helpful
Very clear explanation! I totally get it now. :D
@Edspira
6 жыл бұрын
Great!
@raj56736
5 жыл бұрын
Do people still reply after an year from posting comments? Just testing...
It's clear my doubt...great video 🤗❤️
@Edspira
2 жыл бұрын
Glad it was helpful!
Thank you
thank you
Thank you so much
@Edspira
5 жыл бұрын
No problem!
Great video
Thank you Through explanation
@Edspira
Жыл бұрын
You are welcome!
very big help
Thank you!
@Edspira
6 жыл бұрын
no problem!
thank you.
@Edspira
6 жыл бұрын
No problem!
Thank u❤
Hello, how about Crude Oil and Train Travel? Are they complements or substitutes?
Thanks.🥰
@Edspira
2 жыл бұрын
You’re welcome 😊
Ha Gaahhhh why is this so hard for me to wrap my head around 😫! This video was helpful, but I still feel shaky on these! So If you were to look at two items that are compliments with each other would an increase in either of the two compliments always produce the same results on demand!? And would the same hold true with two items that are both substitutes for each other? Like for compliments if we were looking at let's say ski boots and skis, would an increase in either ski boots or skis produce a decrease in demand? Conversely would a decrease in the price of either ski boots or skis always produce and increase in demand of the other?
@ratnasur4564
2 жыл бұрын
1. yes, lets suppose there are 2 complements, brick and cement, so if brick's price rises then it will be relatively costlier for us to use the two together, same for the combo of any 2 other items , and vice versa with inc 2. yes again, lets suppose that u use tea and coffee both, so in case of inc of tea, you would naturally resort oto coffee since now it is cheaper than the tea, but if the price of tea was dec, then you would dec demand for coffee so i hopeu understood this :)
what if government impose tax on a complementary good how does that affect supply and demand of the other good
I get this but I don't know how substitutes & complements affect supply...
@bangtanutopiaa
5 жыл бұрын
Substitutes and complements are determinants of demand not supply. There are separate determinants for supply :-)
Train tickets become cheaper how does it cause decrease in demand for bus tickets? Isn't it the other way around?
protein bar and protein shakes are complements.if price of shake decrease then demand for protein bar will increase??
@hasinashraf4423
4 жыл бұрын
yes
L