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Khan Academy: Price of Related Products and Demand Instructional VideoKhan Academy: Price of Related Products and Demand Instructional Video
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Khan Academy
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Instructional Video

Khan Academy: Price of Related Products and Demand

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Complements are goods that are consumed together. Substitutes are goods where you can consume one in place of the other. The prices of complementary or substitute goods also shift the demand curve. When the price of a good that complements a good decreases, then the quantity demanded of one increases and the demand for the other increases. When the price of a substitute good decreases, the quantity demanded for that good increases, but the demand for the good that it is being substituted for decreases. Take a deeper dive into how changes in the prices of complements and substitutes affect the demand curve in this video. [5:58]

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Concepts

demand curve

Additional Tags

price changes, complements, goods that are consumed together, khan academy, price of related products and demand, shift the demand curve, substitute product
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Resource Details

Grade
9th - 10th
Subjects
Social Studies & History
2 more...
Resource Type
Instructional Videos
Audiences
For Administrator Use
2 more...

View 5,792 other resources for 9th - 10th Grade Economics

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