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.

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