Substitute Goods & Complementary Goods | Interesting Economic Facts

What are substitute goods that dictate supply and demand in economics? Complements and substitutes make for an interesting realization in economics. You can start understanding the effect of complements and substitutes on your daily life by understanding what complements are, what are substitute goods, how complementary goods and substitute goods are correlated and what you should know about complements and substitutes with supply and demand in economics. Understand all these things and more interesting economic theories in this episode of the FutureIQ podcast with Navin Kabra and Shrikant Joshi. More Videos: Should India Be Scared of Trump’s Trade Power?: https://youtu.be/yajGC6Y1Kis Hope you enjoyed FutureIQ by Navin Kabra and Shrikant Joshi. Do hit us up on Twitter: @ngkabra http://twitter.com/ngkabra @shrikant https://twitter.com/shrikant Listen it on the podcast provider of your choice: https://tapthe.link/FutureIQRSS Watch other episodes of The FutureIQ podcast: https://www.youtube.com/playlist?list=PLAppTB0r5_TaYueZ0adD42Wiw5X-wTE4v Chapters: 00:00 Introduction 00:30 Substitutes & complements 04:24 The correlation 05:00 Example 1 06:25 Example 2 08:12 Example 3 12:00 Example 4 14:28 Revision 15:24 Complements 18:34 When it backfires 20:25 Google 24:48 ChatGPT #futureiq #economics