Question : Products that have alternative uses are known as:
Option 1: Substitute goods
Option 2: Complementary goods
Option 3: Comfort goods
Option 4: None of these
Answer (1)
23rd Jan, 2024
Correct Answer: Substitute goods
Solution :
Substitute goods are the goods that can be used in place of each other.
A product or service that consumers perceive to be sufficiently similar to or the same as another is referred to as a substitute good. A product that can be used in lieu of another is known as a substitute.
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