How do we distinguish between related goods and unrelated goods? – InterviewSolution

1.	How do we distinguish between related goods and unrelated goods?
Answer» It is said that when there is a demand for change in response to the change in the price of the other, the goods are related. For example, increase in the price of coffee is expected to cause increase in demand for tea. So tea and coffee are related goods. Whereas goods are unrelated or not affected by each other, when demand for one is independent of any change in price of the other. Demand for shoes, for example, is not affected by change in price of sugar. Shoes and sugar are thus unrelated goods.

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