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Tea and Coffee Are Substitute Goods. Therefore, When The Price For One of Them Increases, The Demand For The Other Increases

Tea and coffee are substitute goods, so when the price of one increases, demand for the other increases as consumers substitute one good for the other due to the relative price change.

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0% found this document useful (0 votes)
87 views1 page

Tea and Coffee Are Substitute Goods. Therefore, When The Price For One of Them Increases, The Demand For The Other Increases

Tea and coffee are substitute goods, so when the price of one increases, demand for the other increases as consumers substitute one good for the other due to the relative price change.

Uploaded by

CosmicBlue24
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Tea and coffee are substitute goods.

Therefore, when the price for one of them increases, the demand for the other increases.

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