Lesson Progress
0% Complete
Topic Content:
- Types of Demand
- Joint or Complementary Demand
- Competitive Demand
- Derived Demand
- Composite Demand
1. Joint or Complementary Demand:
This relates to the commodities that are consumed together e.g. tea and sugar, bread and butter, motor vehicle, and petrol pen and ink. One commodity may be complementary to another so that the two commodities may be jointly demanded. That is; as the demand for one increases, the quantity demanded, for the other also rises. Examples of such commodities are torchlights and batteries.
2. Competitive Demand:
You are viewing an excerpt of this Topic. Subscribe Now to get Full Access to ALL this Subject's Topics and Quizzes for this Term!
Click on the button "Subscribe Now" below for Full Access!
Subscribe Now
Note: If you have Already Subscribed and you are seeing this message, it means you are logged out. Please Log In using the Login Button Below to Carry on Studying!
Responses