Question

Determine whether these items are complements of each other or substitutes. a. shampoo and conditioner b. ice cream and ice-cream cones c. ice cream and frozen yogurt d. crayons and markers e. milk and chocolate syrup f. baked potato and sour cream g. a bar soap and liquid soap h. pudding cups and Jell-O cups i. lunch box and a paper bag j. lunch at school and a packed lunch k. roller blades and hockey sticks

Answer 1

Answer:

 

Explanation:

a. shampoo and conditioner ______ complementary goods

b. ice cream and ice-cream cones ____complementary goods

c. ice cream and frozen yogurt ______ substitute goods

d. crayons and markers ____________ substitute

e. milk and chocolate syrup _________ complementary

f. baked potato and sour cream ______ complementary

g. a bar soap and liquid soap _______ substitutes

h. pudding cups and Jell-O cups ____ substitutes

i. lunch box and a paper bag j. lunch _____ complementary

j. lunch at school and a packed lunch _____ substitutes

k. roller blades and hockey sticks _________ substitutes

Substitute goods are products which all satisfy a common want and complementary goods are products which are consumed together.

Answer 2

Answer:

a. Complementary

B. Complementary

C. Substitute

D. Substitute

E. Complementary

F. Complementary

G. Substitute

I. Complementary

J. Substitute

K. Complementary

Explanation:

Complementary goods are goods that are goods used with other goods or service. A complementary good has no value when consumed without the other goods but increases appeal and therefore value when consumed in conjunction with other goods such as ice cream and the cone above. On the other hand, substitute goods are alternative goods that may be chosen over the other and therefore are competing goods in the market.