Definition for related goods

Related goods are products that are connected in some way, often because they are used together or serve similar purposes. They can be classified as substitutes, where one good can replace another (e.g., butter and margarine), or complements, where the use of one good enhances the use of another (e.g., printers and ink cartridges). Changes in the price or availability of one related good can significantly impact the demand for the other.