Which one of the following is an example of close substitute:
A)Tea and Coffee
B)Milk and water
C)Bread and Butter
D)Pen and pencil

Question

Quizplus · Accepted Answer

Tea and coffee are considered close substitutes because they both serve a similar purpose as caffeinated beverages, often consumed for a similar experience or effect, such as an energy boost or warmth. Consumers might switch between the two based on price, preference, or availability, making them close substitutes in the market.

Which One of the Following Is an Example of Close