Substitutes
Definition
Substitute goods are used in place of one another. If the price of one increases, the demand for the other will increase (or vice versa).
Examples
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Substitutes: coffee and tea
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Complements: cars and gasoline
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Substitute goods are used in place of one another. If the price of one increases, the demand for the other will increase (or vice versa).
Substitutes: coffee and tea
Complements: cars and gasoline