COMPLEMENT-IN-CONSUMPTION: One of two goods that are consumed together to provide satisfaction -- that is, the goods are used jointly to satisfy wants and needs. A complement good is one of two alternatives falling within the other prices determinant of demand. The other is a substitute good. An increase in the price of one complement good causes a decrease in demand for the other. A complement good has a negative cross price elasticity. When the terms complements or complement goods are used, they typically means complement-in-consumption (compare this with complement-in-production). Examples of complement goods are golf clubs and golf balls; hamburgers and french fries; and cars and gasoline. In each case, the two goods "go together." People seldom use or consume one without the other.

     See also | complement | demand | consumption | demand curve | other prices | demand shock | demand determinants | cross elasticity of demand | complement-in-production |

COMPLEMENT-IN-CONSUMPTION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: June 22, 2018].

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A way of looking at and analyzing the way the world works by comparing the cost of an action with the benefit generated. The study of economics is the process of economic thinking about issues related to the scarcity problem.

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