Examine the correctness of the following statement. Correct it if necessary, without changing the portion unde

Question 18 of 26

Q. Examine the correctness of the following statement. Correct it if necessary, without changing the portion underlined : Wants for car and petrol are competitive. (underlined: Wants for car and petrol are)

ChseodishaCHSE Odisha Plus Two (Class 12) Commerce Board 2019Subjective· 1mImportance★★★★★est

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The statement is incorrect; wants for car and petrol are complementary, not competitive.

This is a correct-the-statement item in CHSE Odisha +2 Business Economics, keeping the underlined part — 'Wants for car and petrol are' — unchanged.

Wants can be classified by the relationship between goods:

Competitive (substitute) wants arise when goods can replace one another (tea and coffee); more of one means less of the other. …

Q.Examine the correctness of the following statement. Correct it if necessary, without changing the portion underlined : Wants for car and petrol are competitive. (underlined: Wants for car and petrol are)