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

  • @richardreyes3764
    @richardreyes37643 жыл бұрын

    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

    @Edspira

    3 жыл бұрын

    Thank you my friend!

  • @freaky_phish
    @freaky_phish5 жыл бұрын

    Should have more views! Very well explained.

  • @brendanbaumgarten1902
    @brendanbaumgarten1902 Жыл бұрын

    Just the person I needed to help me with Economics! Thank you for the video!

  • @carolinagarciagomez7281
    @carolinagarciagomez72815 жыл бұрын

    Explained sooo well tysm !

  • @jiamin9434
    @jiamin94345 жыл бұрын

    This video supper helpful for my economic knowledge !!

  • @iwoedward-pepple3436
    @iwoedward-pepple34365 жыл бұрын

    thanks a lot it helped me a lot

  • @MrSpaceplatypus
    @MrSpaceplatypus2 жыл бұрын

    Very good video. Thanks for the clear explanation!

  • @javohirai
    @javohirai4 жыл бұрын

    Thank you so much for easy access to understand the difference!

  • @Edspira

    @Edspira

    4 жыл бұрын

    You're very welcome!

  • @blastedflavor3604
    @blastedflavor36044 жыл бұрын

    Great Video! Very helpful!

  • @amenaqutbuddinhusain5232
    @amenaqutbuddinhusain52325 жыл бұрын

    Very much helpful....😀thanku sir

  • @vrindharanjith4387
    @vrindharanjith43872 жыл бұрын

    Thank you so much !

  • @londekandlovu8906
    @londekandlovu8906Ай бұрын

    You’re a genius!!

  • @ivahna1998
    @ivahna19986 жыл бұрын

    Excellent !!

  • @vinothbalendran363
    @vinothbalendran3635 жыл бұрын

    Good explanations..

  • @lostheroes8704
    @lostheroes87044 жыл бұрын

    Thank you sir!

  • @esteban_ruiz
    @esteban_ruiz Жыл бұрын

    Really nice explanation. Nice economics

  • @camnhungtrinhthi8415
    @camnhungtrinhthi84155 жыл бұрын

    very helpful. thank you

  • @steelray4304
    @steelray43044 жыл бұрын

    Thank you so much! You saved more than an hour for me :D

  • @chasealexandermartin5465
    @chasealexandermartin54657 ай бұрын

    This is clutch thanks

  • @wayporeber5287
    @wayporeber52876 жыл бұрын

    Thank you for this ideas..I will use this for my report😄😄

  • @Edspira

    @Edspira

    6 жыл бұрын

    Nice!

  • @khadijabenamer3313
    @khadijabenamer33136 жыл бұрын

    It is really helpful , Thank you so much

  • @Edspira

    @Edspira

    6 жыл бұрын

    No problem. Take Care!

  • @betul3835
    @betul38353 жыл бұрын

    Thank you🙏🏻

  • @calvinlam949
    @calvinlam9494 жыл бұрын

    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?

  • @honeymilku5659
    @honeymilku56592 жыл бұрын

    Thank you so much its clear now !!

  • @Edspira

    @Edspira

    2 жыл бұрын

    Glad it helped!

  • @SurferBum1002
    @SurferBum10025 жыл бұрын

    Very helpful

  • @karinaabramchuk3815
    @karinaabramchuk38156 жыл бұрын

    Very clear explanation! I totally get it now. :D

  • @Edspira

    @Edspira

    6 жыл бұрын

    Great!

  • @raj56736

    @raj56736

    5 жыл бұрын

    Do people still reply after an year from posting comments? Just testing...

  • @kishorer5545
    @kishorer55452 жыл бұрын

    It's clear my doubt...great video 🤗❤️

  • @Edspira

    @Edspira

    2 жыл бұрын

    Glad it was helpful!

  • @thefreshprince26
    @thefreshprince264 жыл бұрын

    Thank you

  • @Thunder-ee7bq
    @Thunder-ee7bq Жыл бұрын

    thank you

  • @harishahari1495
    @harishahari14955 жыл бұрын

    Thank you so much

  • @Edspira

    @Edspira

    5 жыл бұрын

    No problem!

  • @hugoabe1809
    @hugoabe18093 жыл бұрын

    Great video

  • @MDHossain-tk4mx
    @MDHossain-tk4mx Жыл бұрын

    Thank you Through explanation

  • @Edspira

    @Edspira

    Жыл бұрын

    You are welcome!

  • @estherxenabejona6905
    @estherxenabejona69055 жыл бұрын

    very big help

  • @ClassiqueXx
    @ClassiqueXx6 жыл бұрын

    Thank you!

  • @Edspira

    @Edspira

    6 жыл бұрын

    no problem!

  • @mmmnnn302
    @mmmnnn3026 жыл бұрын

    thank you.

  • @Edspira

    @Edspira

    6 жыл бұрын

    No problem!

  • @dumsdayYT
    @dumsdayYT11 ай бұрын

    Thank u❤

  • @maylinthant8686
    @maylinthant8686 Жыл бұрын

    Hello, how about Crude Oil and Train Travel? Are they complements or substitutes?

  • @brianyen373
    @brianyen3732 жыл бұрын

    Thanks.🥰

  • @Edspira

    @Edspira

    2 жыл бұрын

    You’re welcome 😊

  • @rchallender2493
    @rchallender24933 жыл бұрын

    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

    @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 :)

  • @chillingouthere5008
    @chillingouthere50083 жыл бұрын

    what if government impose tax on a complementary good how does that affect supply and demand of the other good

  • @sinniechan2390
    @sinniechan23905 жыл бұрын

    I get this but I don't know how substitutes & complements affect supply...

  • @bangtanutopiaa

    @bangtanutopiaa

    5 жыл бұрын

    Substitutes and complements are determinants of demand not supply. There are separate determinants for supply :-)

  • @crafofart
    @crafofart2 жыл бұрын

    Train tickets become cheaper how does it cause decrease in demand for bus tickets? Isn't it the other way around?

  • @jagdeepkaur5346
    @jagdeepkaur53465 жыл бұрын

    protein bar and protein shakes are complements.if price of shake decrease then demand for protein bar will increase??

  • @hasinashraf4423

    @hasinashraf4423

    4 жыл бұрын

    yes

  • @jacobvillanueva7082
    @jacobvillanueva70822 жыл бұрын

    L