Question:

What does "relative good" mean- economics?

by  |  earlier

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"A shift in the demand curve can result from the the price of a relative good".

Does it mean a substitute product...?

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  1. I think the relative good 's the goods that have relation to each other.

    For example, if you buy a pencil, you also need to buy a rubber.

    It means that whether you want a rubber or not, you need to buy it .Because you need to use a pencil with it.

    = =

    im not sure ... just try to guess!


  2. Relative goods (or related goods) are of two types:substitute good and complementary goods. A change in the price of such goods can lead to a shift in the demand curve of the good in question.

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