Those products for which changes in demand are negatively related are called:
A)substitute products.
B)complementary products.
C)parallel products.
D)convenience products.
E)standard products.

Question

Quizplus · Accepted Answer

Substitute products are those that can be used in place of each other, and therefore changes in demand for one product are negatively related to changes in demand for the other product. For example, if the price of oranges increases, people may choose to buy more apples instead, leading to a decrease in demand for oranges and an increase in demand for apples.

Those Products for Which Changes in Demand Are Negatively Related