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Question:

What do you mean by complements? Give examples of two goods which are complements of each other.

Answer:

Those goods that are consumed together are called complementary goods. Example: Tea and sugar. If the price of sugar increases, then it will lead to a decrease in the demand for tea. If the price of tea increases, then it will reduce the demand for sugar. The demand for a good move in the opposite direction of the price of its complementary goods. That is, If the Price of tea (PT ) increases, then the demand for sugar (Ds ) decreases. If the Price of sugar (Ps) increases, then the demand for tea ( DT) decreases.


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