--%>

What is substitutes

Substitutes: The two goods for which a rise in the price of one good leads to a rise in the demand for another.

   Related Questions in Macroeconomics

  • Q : Income approach to evaluate national

    Explain in short the income approach to evaluate national income. Answer: Under income method to compute the National Income, the steps given below have been taken into account: A) First of all production units tha

  • Q : Substitution Effect explanation Can

    Can someone help me in finding out the right answer from the given options. The substitution effect is fully explained when: (i) Brandon just eat tofu since he is on a diet. (ii) A rise in the price of corn chips drives up demand for the salsa. (iii)

  • Q : What is the difference between profit

    What is the difference between profit and producer surplus?

  • Q : Assignment Task 1 – Commercial banks in

    Task 1 – Commercial banks in United Economy have total deposits of AED 300 billion. Their reserves are AED 15 billion, two- thirds of which are with the Central Bank as deposits. There are AED 30 billion notes outside the banks. There are no coins! Calculate- a) The monetary base. b) The bank

  • Q : National income how to calculate

    how to calculate national income under value added method

  • Q : List Which of the following lists

    Which of the following lists includes only capital resources (and ther Which of the following lists includes only capital resources (and therefore no labor or land resources)?

  • Q : Fiscal and monetary policies in

    Explain the impact of changes in fiscal and monetary policies in curtailing inflation?

  • Q : Positional Goods problem Can someone

    Can someone help me in finding out the right answer from the given options. In accord with the theories of Thorstein Veblen, the positional goods from which the owner or user of the good derives the jollies mainly since of the power, class and status signaled by the p

  • Q : Problem on value of imports The balance

    The balance of trade demonstrates a deficit of Rs 300 crore. The values of exports are Rs 500 crore. Determine the value of imports? Answer:

    Q : Evaluation of net present value Explain

    Explain evaluation of net present value (NPV) and internal rate of return (IRR) in brief?