A document describing the business, its goals, and how the goals will be met best describes the term business plan.
A business plan describes in precise detail the ambitions of a business and how it plans to achieve them. A business plan offers a thorough road map for the company 's branding, economic, and operating goals. Both new and established firms employ business plans. An essential document aimed at both internal and external audiences is a business plan. For instance, before a business has developed a track record that can be relied upon, a business plan is also used to entice investment. Obtaining loans from financial organizations might also be aided by it.
Every business ought to have a business plan, even though they're particularly helpful for start-ups. To reflect goals that have changed or been attained, the plan should ideally be reviewed and updated on a regular basis.
This question is incomplete. The complete question is, "Which of the following best defines the term business plan?
A letter from the business owner introducing him or herself.A document describing the business, its goals, and how the goals will be met.A spreadsheet that proves the business will make a lot of money.A document that describes the business in the best light possible."Learn more about Business Plan here:
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The best definition of the term "business plan" is a document outlining the company, its objectives, and how those objectives will be achieved.
During business cycles, economic activity experiences periods of expansion and then decline. These advancements have an impact on both the overall well-being of society and the welfare of private businesses. To ascertain how business cycles have evolved over time, changes in a broad economic indicator, such as Real Gross Domestic Product, are typically investigated. Widespread upswings and downswings in a number of macroeconomic indices are typical examples of business cycle fluctuations. The length and intensity of each expansion/recession episode varies over time. Their periodicity typically spans between two and ten years. As in, such flexible knowledge about the frequency of business cycles may actually be included in their mathematical analysis, which uses a Bayesian statistical paradigm.
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The complete question is:
Which of the following best defines the term "business plan"?
A. A letter from the business owner introducing him or herself
B. A document describing the business, its goals, and how the goals
will be met
C. A spreadsheet that proves the business will make a lot of money
D. A document that describes the business in the best light possible
if in some year nominal gdp was $20 billion and the gdp deflator was 50, what was real gdp?
If the nominal GDP was $20 billion and the GDP deflator was 50 in a given year, the real GDP would be $40 billion.
What Exactly Is Nominal GDP?The nominal GDP reflects the value of all items produced throughout a year at the market rate. It is not taken into account the costs from the base year. As a measure of economic growth, it is useless.
Sometimes referred to as the GDP deflator, the price index. Over the course of two years, it measures the rate of inflation or the change in commodity prices. Following are the connections between the nominal GDP, real GDP, and GDP deflator:
GDP deflator= [tex]\frac{nominal GDP}{real GDP} X 100[/tex]
50= [tex]\frac{20}{Real GDP}[/tex] X 100
Real GDP= [tex]\frac{2000}{50}[/tex]
Real GDP= 40 Billion
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An economy with a larger involvement in foreign trade:
Question 11 options:
1) is more likely to suffer a larger trade imbalance.
2) may measure its exports as a share of GDP.
3) has a substantial trade imbalance.
4) has an underlying trade imbalance.
2) may measure its exports as a share of GDP. An economy with a larger involvement in foreign trade may measure its exports as a share of GDP. This is because exports are a key indicator of an economy's level of involvement in international trade.
A higher share of exports in GDP can indicate that the economy is more dependent on foreign trade and that it is more integrated into the global economy. It is important to note that measuring exports as a share of GDP is a way to evaluate the foreign trade involvement but it does not necessarily indicate if the economy has a trade imbalance, substantial trade imbalance or underlying trade imbalance. A trade imbalance occurs when a country imports more goods than it exports. It does not necessarily mean that the economy is performing poorly and it can be due to a variety of reasons such as differences in resource endowments and comparative advantages.
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from a Discount City store, and downloads $300 worth of digital music from . Circuit Stereo City. To be enforceable, the contract that must be in writing is the purchase of
To be enforceable, the contract that must be in writing is the purchase of The speakers only. As per statute of frauds, the contract for the sale of goods priced at $500 or more should be in writing.
According to a legal principle known as the statute of frauds, certain kinds of deals must be in writing. The trade of land, agreements involving products valued at further than$ 500, and contracts lasting a time or further are some of the deals that are most constantly subject to the statute of frauds. The statute of frauds' thing is to stop fraud and other wrongdoing. These pretensions are constantly referred to as evidential and exemplary. The statute of frauds serves as substantiation by offering evidence of the actuality of a valid, binding contract. The enactment of fraud's exemplary purpose is to encourage each party to be more careful, purposeful, and serious in their dealings.
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What are the most important rights of an employee?
You won't experience bullying or unfair treatment due to your race, color, religion, sexual orientation, gender identity, national origin, handicap, age (40 or older), or genetic information (including family medical history). Equal remuneration for equivalent effort is granted.
What are some of the duties and rights of employees?You have a duty as an employee to:
Wear or make use of the necessary protective equipment while working, and adhere to all legal employer safety and health laws and regulations. Describe dangerous situations to your employer. Inform your employer of any illness or injury that occurred on the work, and get help right away.
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Business letters are typically sent
O a. outside an organization.
O b. within an organization.
O c. only by high-level executives.
O d. to relay bad news.
Business letters are typically sent outside an organization. Thus the correct option is A.
What is Business Letter?A business letter is referred to as a document that is sent to other organizations to promote business relations by offering them any proposal or any kind of communication-related to the business.
The language of the business letter is formal as it is used in an official setting. It provides information about the current status of business deals as well as checks progress.
As it is sent to other organizations it follows a particular structure. Therefore, option A is appropriate.
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How do countries become interdependent in their economies?
The globalization that results from economic interdependence also sparks international ties and a successful trading system among nations.
What is economic interdependence?Many businesses are financially dependent on one another under the theory of economic interdependence. This can also result in a large number of nations being economically interdependent with one another on a macroeconomic level. Because of the specialization of labor brought about by the large number of products produced in a single country, interdependence in the economy is inevitable. As a result, organizations are forced to join a trading network and rely on one another to supply them with goods they are unable to manufacture on their own. Globalization is an outcome of economic interdependence. Here, each country's economy and reliance on imports from other countries for goods and services is evident. As an illustration, China currently supplies several commodities to the United States.
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Amount due from another party. Most common: Accounts receivables, and Notes receivables.
a. Bad Debts
b. Bankers rule
c. Selling receivables
d. Receivables
Amount due from another party. Most common: Accounts receivables, and Notes receivables. are Receivables.
The term "amounts owed by the other party to the company" refers to debts owed by a third party. As a result, the company will treat these as receivables. The balance sheet will show these receivables as assets. These will be converted into cash once they are collected. The related collection will have no effect on the total assets because it will increase cash and decrease the receivables account. Accounts receivable are typically categorized as current assets according to accounting principles because they "converted to cash within one year."
This is due to the fact that the account receivable is converted into cash within a year of being collected.However, it is considered a long-term asset rather than a current asset if it is converted after more than one year.Because they "converted to cash within one year," accounts receivable typically fall under the category of current assets in this instance.
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What happened in the First World War summary?
In World War I, more than 9 million soldiers died and 21 million others were injured. Nearly 10 million civilians died during this time. The two nations were Germany and France.
Who initiated the First World War?This list provides a summary of the primary causes of World War 1 that are often mentioned. When Austria-Hungary attacked Serbia, Russia stepped in to defend it. Germany observed Russia's mobilization and then attacked it. The war between Germany and Austria-Hungary then included France.
Who started the first World War?More than 30 nations declared war between 1914 and 1918. The majority allied with the US Serbia, USSR, France, Uk, Italy, and other countries. They were met by resistance from the Central Powers, this included Germany, Schleswig, Bulgaria, as well as the Ottoman Empire.
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How much is sales tax in New Hampshire?
No, there isn't a state-wide sales tax on items bought in New Hampshire.
Is NH a state with high taxes?Both a state and local sales tax are not imposed in New Hampshire. On our index of the state business tax climate for 2022, New Hampshire's tax structure comes in sixth overall.
In NH, are groceries taxed?(a) Aside from Oregon, Alaska, Delaware, Montana, and New Hampshire, none of these states impose taxes on food, sweets, or soda.
In New Hampshire, what is taxed?The state of New Hampshire has no income tax. However, there is already a 5% tax on dividends and interest over $2,400 ($4,800 for joint filers) for individuals. The tax on interest and dividends is gradually being eliminated. For 2023, 2024, 2025, and 2026, the rate will be 4%, 3%, 2%, and 1%, respectively.
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The cross-price elasticity of two goods is found to be 2.58. Then the relationship between the two goods is: Group of answer choices Inferior Normal Substitute Complement
The cross-price elasticity of two goods is found to be 2.58. Then the relationship between the two goods is Substitute.
What does elasticity in economics mean?Elasticity is a term used in economics to describe the relationship between changes in an item or service's price and changes in the total amount requested of such goods or services. A product is said to be elastic if the amount demanded of it fluctuates more than proportionately with changes in price.
What does elasticity look like in economics?Elastic demand is the property of a good that occurs, for instance, when its price rises by 10% while its demand falls by 20%. Compared to the price change, the quantity demanded has greatly expanded.
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Jennifer purchased stock at $50 per share with a 75% initial margin requirement and a maintenance margin of 35%. How much equity per share must Jennifer contribute when the stock falls to $15 per share
$2.75 equity per share must Jennifer contribute when the stock falls to $15 per share.
Definition of Maintenance Margin?
The Financial Industry Regulatory Authority (FINRA) mandates that maintenance margin be established at 25% of the entire value of the assets in a margin account.
Maintenance margin is the minimum equity an investor must keep in the margin account after the purchase has been made.
Stock price * maintenance margin = required equity
Hence required equity = $15 * 35%
= $5.25
Now actual equity = stock price - debt
Stock price = 15
And debt = Purchase price*(1-initial margin requirement)
= 50*(1-75%)
= 50*25%
= 12.50
Thus actual equity = 15-12.50
= 2.50
Now required equity - actual equity = equity per share to be contributed
= 5.25 - 2.50
= $2.75
Hence the answer is $2.75
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changes in the cost of money is referred to as ____________ risk.
Market segments that can be effectively reached and served are said to be ______. A) measurable. B) accessible. C) substantial.
D) actionable.
E) profitable
Market segments that can be effectively reached and served are called profitable. Option E is correct.
What is market segmentation?It corresponds to a strategy used by companies to identify their potential audience. For this, market research is carried out to identify the characteristics of each public, such as age, income, geographic location, tastes, desires and preferences.
After the company identifies its public by groups, it can institute communication and advertising techniques that directly reach this portion of consumers.
Therefore, an effective market segmentation is capable of increasing the company's profitability, its value to consumers and its positioning.
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The common characteristic possessed by all assets is
O tangible nature.
O future economic benefit.
O great monetary value.
O long life.
The common characteristic possessed by all assets is O future economic benefit.
Any resource that a company or other economic organization owns or controls is considered an asset in financial accounting. Anything that can be used to generate positive economic value, whether it be tangible or immaterial, qualifies. Assets indicate ownership value that may be sold for money (although cash itself is also considered an asset).Tangible and intangible assets are the two main categories into which assets can be divided. Current assets and fixed assets are just two of the many subclasses that make up tangible assets. [3] Fixed assets include real estate, buildings, and equipment, whereas current assets are cash, inventories, and accounts receivable.
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arlene quits her $125,000-a-year job to take care of her ailing parents. what is the opportunity cost of her decision?
The opportunity cost of her decision is the salary she would have been earning, which is $125,000 a year.
What is cost?The cost of something depends on many factors, such as the type of product or service, the quality, brand, and availability. Generally, the cost of an item is determined by the amount of resources and effort it takes to create or acquire it. Cost can also be influenced by the market, with factors like supply and demand, competition, and pricing strategies all playing a role. Cost is an important consideration when making any purchase decision, as it can determine how much value you receive for your money.
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The opportunity cost of Arlene's decision to quit her job to take care of her ailing parents is the foregone income of $125,000 per year. This means that by choosing to take care of her parents, Arlene will no longer have the opportunity to earn that income.
Opportunity cost is the cost of a chosen action in terms of the next best alternative that must be foregone. In other words, it is the cost of one decision in terms of the benefit that could have been gained by choosing another option. For example, if you decide to invest your money in a stock, the opportunity cost is the potential return on investment you could have earned by investing in a different stock or in a different investment vehicle, such as real estate or bonds. Opportunity cost can also be considered in terms of time, where the cost of one decision is the time that could have been spent on another task or activity.
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Which broadway show announced it will close in 2023 after a 35-year run?
Phantom of the Opera is the broadway show announced it will close in 2023 after a 35-year run
"The Phantom of the Opera" is a musical by Andrew Lloyd Webber, based on the novel of the same name by Gaston Leroux. It tells the story of a mysterious and disfigured musical genius known as the Phantom who lives in the sewers beneath the Paris Opera House and becomes obsessed with a young soprano named Christine, whom he trains to become a star. The show features music by Andrew Lloyd Webber, lyrics by Charles Hart, and a book by Lloyd Webber and Richard Stilgoe. "The Phantom of the Opera" opened on Broadway at the Majestic Theatre in 1988 and is the longest-running show in Broadway history, having played over 13,000 performances as of 2021. It has also been produced in many other cities around the world and has been adapted into a film and several other media.
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The Phantom of the Opera announced it will close in 2023 after a 35-year run.
What is phantom?Businesses often use phantom stock as an incentive for employees. Phantom stock provides employees with the same economic benefits of owning real stock, such as dividends and capital gains, without actually holding any shares. Phantom stock is not traded on any exchange, and employees are only eligible to receive the benefits when certain predetermined milestones are met. This type of incentive is often used to motivate employees to achieve long-term goals, such as increasing profitability, increasing market share, or expanding into new markets. This can help a business to remain competitive and successful in the long term.
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Taxpayers with a(n) ______ tax liability in the previous year or whose current tax payable, after subtracting their withholding amounts, is less than ____ are NOT subject to underpayment penalties Group of answer choices
Taxpayers with no tax liability in previous year or whose current tax payable, after subtracting the withholding amounts, is less than dollars are not subject to the underpayment penalties.
What is a penalty?Penalty methods are a specific class of methods for dealing with limited optimization problems. A penalty technique can replace a constrained optimization problem by employing a series of unconstrained problems, the solutions to which should ideally converge to the solution of the original constrained issue. The unconstrained issues are produced by adding the punishment function, which is made up of a penalty parameter multiplied by a measurement of restriction violation. While it is 0 in the zone where the restrictions are being respected, the measure of violation is nonzero when the constraints are broken. Barrier methods are a different class of techniques for limited optimization. In the objective function of these methods, there is also a term that resembles a penalty.
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suppose a tax is imposed on the sellers of fast-food french fries. the burden of the tax will
The vendors of fast food-french fries must pay a levy, the burden of the tax will primarily fall on the sellers of fast-food french-fries.
They will be responsible for paying the tax to the government. However, the cost of the tax may also be passed on to consumers in the form of higher prices for the fries. Additionally, the tax may also lead to reduced profits for the sellers of fast-food french-fries and may cause some of them to go out of business. The burden of a tax will depend on the type of tax, who is required to pay it, and the rate at which it is applied. Some taxes are progressive, meaning that they take a larger percentage of income from high-income earners, while others are regressive and take a larger percentage of income from low-income earners.
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How do you find the second maximum value in Excel with condition?
Excel's second-highest value given the following restrictions:-
Visit cell G4.
Give G4 the expression =LARGE(IF(B2:B8="F",C2:C8),E4).
If you want to apply the formula to G4, press CTRL + SHIFT + ENTER.
How may conditional formatting be used in Excel to find the maximum value?Next, as shown in the screenshot, click Home > Conditional Formatting > New Rule.
Tip: The first cell of your selection is indicated by B2 in the formula above, and the first row range B2:E2 is the one you want to highlight the largest cell in.
How do you locate a value's second occurrence in Excel?Before the column that lists the training, add a column.
Enter the following formula in cell B2: =A2&COUNTIF($A$2:$A2,A2).
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What is an example of a balloon payment?
A balloon payment is a large, lump-sum payment that is due at the end of a loan's repayment term. It is called a "balloon" payment because the amount is large and the payment is "inflated" relative to the other payments that are made throughout the loan's term.
An example of a balloon payment would be a person taking out a mortgage for $300,000, with a fixed interest rate of 5% and a 30-year term. If the loan agreement includes a balloon payment, the borrower may be required to pay off the remaining balance of the loan (for example, $100,000) after 10 years. This means that for the first 10 years of the loan, the borrower would make smaller, regular payments to pay down the principle and interest. But after 10 years, the borrower would be required to make a large, lump-sum payment of $100,000 in order to pay off the remaining balance of the loan.
It is important to note that balloon payment loans are generally less common now because of recent changes in lending laws that have made them more difficult to obtain. And also these type of loans are considered as High Risk by lending Institutions and Banks.
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When a loan's payback period is up, a balloon payment is a huge lump sum that must be made. Due to the payment's size and "inflation" in comparison to other installments made over the course of the loan's duration, it is known as a "balloon" payment.
Describe a balloon payment?A person who takes out a $300,000 mortgage with a fixed interest rate of 5% and a 30-year term is an example of someone who will have a balloon payment. Borrower may be compelled to repay the remaining loan sum (for instance, $100,000) after 10 years if the loan agreement stipulates a balloon payment.
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Create a thesis statement based on the following information by adding a claim (point) and the third point to complete the thesis statement. (10 points each) Topic 1: Education Supports: 1. It could enable one to get a better paying job. 2. It makes a person a more informed citizen. Topic 2: Bowling Supports: 1. It is not limited to any age group. 2. It can be played at any time. Topic 3: Young children Supports: 1. You must provide for their physical needs. 2. You must provide for their emotional needs.
The thesis statement for topic 1 is Education is important as it can enable individuals to avail higher paying job opportunities, make them a more informed citizen, and help them develop critical thinking skills; for topic 2 is Bowling is a physical activity for everyone as it is not limited to any age group, can be played at any time, and does not need any expensive equipment; for topic 3 is As parents or caregiver, young children require a lot of care as you must provide for their physical needs, emotional needs, and mental needs.
A thesis statement is provided at the conclusion of the introductory paragraph of a paper. It is a concise summary of the main point or claim of the paper or essay. It is expressed generally in one sentence. A thesis statement is a sentence which states the topic and purpose of the paper. In the provided case, a thesis statement is provided, and a third point is added to complete the thesis statement. For topic 1, the third point is it helps a person develop critical thinking skills. For topic 2, the third point is it does not need any expensive equipment. For topic 3, the third point is you must provide for their mental needs.
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The williams are buying a house that costs $323,000 and can afford a 10% down payment. If the williams want the lowest monthly payment, which loan option would you recommend?.
I would suggest a 30 year fixed loan with 10% down and a fixed rate of 6% if the Williamses want the lowest monthly payment possible.
What is lending?
A loan is defined as a gift of property, money, or other tangible items given to another party in exchange for the promise to repay the loan amount, plus interest and other financing charges, in the future. A loan can be obtained for a predetermined, one-time sum of money or as an ongoing line of credit up to a predetermined limit. Loans can be obtained in a variety of ways, such as personal, business, secured, and unsecured loans. A loan is a debt that someone or anything incurs. Lenders are the other parties involved in the transaction and are typically governments, financial
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People with an external locus of control tend to be more satisfied with ________ leadership styles.
Group of answer choices
a. achievement-oriented and directive
b. participative and directive
c. directive and supportive
d. supportive and achievement-oriented
Option C is correct. People with an external locus of control tend to be more satisfied with directive and supportive leadership styles.
With the leadership style, the pioneer gives little bearing and little support. all things being equal, devotees settle on and carry out choices. Assigning.
Initiative, both as an examination area and as a sensible ability, includes the capability of a man, gathering or business to "lead", effect or guide various people, gatherings, or whole associations. The expression "initiative" routinely gets considered as a challenged term.
"The movement of fundamental a gathering of people or a business undertaking." that is the manner by which the Oxford Word reference characterizes initiative. In simple words, the executives is set taking risks and troublesome the state of affairs. Pioneers spur others to accomplish something new and better.
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sing the 28/36 ratio, determine the maximum allowable recurring debt for someone with a monthly income of $3,200. a. $256 b. $512 c. $640 d. $896
the maximum allowable recurring debt for someone with a monthly income of $3,200 is a. $256
The computation of the maximum allowable recurring debt is shown below:
Given ratio = 28:36
And the monthly income is $3,200
So the maximum expense on housing = 28% of $3,200 = $896
And, the maximum expense on total debt = 36% of $3,200 = $1,152
Now the maximum allowable recurring debt is
= $1,152 - $896
= $256
Recurring debt is any payment used to service debt obligations that occur on a continuing basis. Recurring debt involves payments that cannot be easily canceled at the payer's request, including alimony, child support, and loan payments.
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Using the 28/36 ratio, determine the maximum allowable recurring debt for someone with a monthly income of $3,200.
a.
$256
b.
$512
c.
$640
d.
$896
What are the 4 steps to creating a project schedule The schedule is part of what project phase?
Top-level managers, managers, first-line managers, etc team leaders are the four most typical categories of managers.
How would you define a project?A project is just a set of activities that must be finished in order to achieve a certain goal. A project may alternatively be described as a collection of inputs and results necessary to accomplish a certain objective. Projects can be handled with one person or one hundred, and they can be simple or complicated.
What is the project's purpose?Goals are declarations of intention. They are typically expressed in general terms. They outline the goals you have for the project's conclusion. On the other end, objectives should be clear statements that specify quantifiable results, such as what
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All of the following are determinants of demand except:
a. Price Tasics
C. Suppis
d. Trice of other goods
A). Price Tactics is not a determinant of demand. Demand is determined by the price of a good or service, the income of the consumer, the price of related goods, expectations, and the number of buyers.
Price is the main determinant of demand as it affects the affordability of a good or service. When the price of a good or service increases, the demand for it decreases.
Income affects the demand for a good or service as consumers with higher incomes can afford more expensive goods and services. The price of related goods affects demand as the price of substitutes and complements affects the demand for the good or service.
Expectations of future prices can also affect demand, as people may buy more of a good or service if they expect the price to increase in the future. Finally, the number of buyers affects demand as the more buyers in the market, the higher the demand for a good or service.
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Can you just buy a new router and plug it in?
You can use your own router instead, and there are several compelling reasons to do so: A new router can provide a more powerful and dependable connection.
Most Internet service providers allow you to buy your own modem and router connection separately, or a device that includes both—the choice is yours. Keep in mind that if you buy a combined device and one of the components fails (for example, the router or the modem), you will have to replace the entire system. If your ISP provides you with a separate cable modem with an Ethernet port, simply unplug the Wi-Fi router that they provided you with and plug in your own Wi-Fi router.
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You can use your own router in its place, and there are several compelling reasons to do so: A better and more dependable connection might be provided via a new router.
Instead, you can utilize your own router for a number of good reasons, including: A new router might offer a better and more stable connection. Simply said, you can replace the router given by your ISP with one of your own using your own equipment. There are many various devices available to replace your subpar ISP routers, so you should really search around to get the one that best matches your needs as a user. An actual or virtual device known as a router is used to transmit data between two or more packet-switched computer networks. A router examines the destination Internet Protocol address of a given data packet, determines the optimal path for it to take to its destination, and then forwards it in accordance with that decision.
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Who is part of the development Value Stream?
• Everyone used to build the business Solutions that Customers use
• Everyone in a Lean Enterprise
• Everyone needed to build the systems that the operational Value Streams use
• Everyone who is part of the operational Value Stream
The people who develop solutions that would be utilized by the Operational Value Stream are part of the development Value Stream.
What is Operational Value Stream?Operational value streams (OVS) are the chain of activities that are needed to deliver a product or service to a customer.
Development value streams (DVS) are the chain of activities needed to convert a business hypothesis into a digitally-enabled Solution.
The reason to organize around value streams is that they improve workflow and acceleration time in the market. They accomplish this by optimizing the flow of value to the customer across various divisions and departments, through suppliers, channels, and the system.
Therefore, Option (c) is correct.
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As a factor of production, oil reserves are counted as:
A.) renewable resource and a part of capital
B.) nonrenewable resource and part of capital
C.) renewable resource and part of land
D.) nonrenewable resource and a part of land
As a factor of production, oil reserves are counted as a renewable resource and part of land. Hence, option C is correct.
What is a renewable resource?Renewable resources cannot run out within the lifespan of a person, whereas nonrenewable resources can. Crude oil is an illustration of a non-renewable resource. Natural reserves will continue to shrink as long as crude oil is continuously mined, making it harder and more expensive to find.
However, because they are constantly replenishing themselves, renewable resources cannot run out. An illustration would be the sun and wind, whose energy may be used to power buildings and residences.
Thus, option C is correct.
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Which of the following will most likely increase the demand for a particular good?
a. a decrease in income
b. a decrease in the number of consumers purchasing substitute products
c. a fall in the price of substitute goods
d. an increase in time required to purchase complimentary goods
e. a decrease in the price of complementary goods
A decrease in the price of complementary goods would most likely increase the demand for a particular good, as it would make it more affordable to purchase the good in combination with its complementary good.
What is complementary goods?Complementary goods are products or services that are often used together. These goods are typically dependent on each other, meaning that one cannot be consumed without the other. For example, a consumer may purchase a laptop and a laptop case. The laptop and the laptop case are complementary goods because the laptop case is needed to protect the laptop. Another example of complementary goods is a smartphone and a wireless plan. The wireless plan is necessary to use the smartphone.
To learn more about complementary goods
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