Question : Coffee and tea are examples of ___ goods.
Option 1: Complementary goods
Option 2: Substitute goods
Option 3: Inferior goods
Option 4: Normal goods
Answer (1)
27th Jan, 2024
Correct Answer: Substitute goods
Solution :
Coffee and tea are examples of substitute goods.
Substitute goods or substitutes are at least two products that can be used by the same consumers for the same purpose. In the eyes of the consumer, substitute goods are identical, similar, or comparable to another product.
Hence option b is the correct answer.
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