Goods are said to be in competitive demand when they are
Answer Details
Goods are said to be in competitive demand when they are substitutes for each other. This means that the goods can be used for the same purpose and satisfy the same wants or needs, so consumers can choose between them based on price, quality, availability, and other factors. For example, if the price of coffee increases, consumers may switch to tea, which is a substitute for coffee. In this case, coffee and tea are in competitive demand because they are substitutes for each other.