Substitutes or Complements

Substitutes or Complements - Sub stit Com ute so ple r me...

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Unformatted text preview: Sub stit Com ute so ple r me nts Jerald Brooks Click to edit Master subtitle style MT140 Introduction to Management. Instructor: Joyce Boone 8/2/11 Table of Contents • Slide 1 Substitutes • Slide 2 Complements • Slide 3 Demonstration Slide 4 Competition Business Slide 5 References • • 8/2/11 Substitutes • Impact quantity demanded. A substitute is something that can be used INSTEAD of a particular good or service. For example, for dinner, you can substitute beef for chicken and still have a protein component. Theoretically, if the price of chicken increases relative to the price of 8/2/11 Complements • Complements are items which are used in conjunction with one another. Peanut butter and jelly are complementary items. Theoretically, if the price of peanut butter goes up, people will buy less peanut butter and less jelly because peanut butter and jelly are typically purchased 8/2/11 Demonstration 8/2/11 Business Competition Each business have their own competition. One of the Biggest businesses that compete is restaurants. Restaurants Have the biggest competition with each other known to man. They compete to keep their businesses going. Who has the best burgers, or fountain drinks. The more they offer the more revenue they bring in. 8/2/11 References • Substitutes and Complements, Retrieved on September 01, 2009 from website: http://www.schools.manatee.k12.fl.us /072JGALINDO/supplyanddemand/sub stitutes_and_complements.html 8/2/11 ...
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Substitutes or Complements - Sub stit Com ute so ple r me...

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