Oil and alternative sources of energy such as wind and solar are
A)Complementary goods.
B)Substitute goods.
C)Inferior goods.
D)Income-elastic goods.

Question

Quizplus · Accepted Answer

Oil and alternative sources of energy such as wind and solar are substitute goods because they can be used interchangeably to produce energy. As the price of oil increases, the demand for alternative sources of energy also increases, making them substitutes for oil.

Oil and Alternative Sources of Energy Such as Wind and Solar