2.2 Demand Flashcards
1
Q
Competitive demand
A
When goods are substitutes, so buying one means you don’t buy the other
2
Q
Composite supply
A
When a good or service can be obtained from different sources
3
Q
Demand
A
The quantity of a good/service that consumer are able and willing to buy at a given price during a given period of time
4
Q
Joint demand
A
When goods are bought together
5
Q
Market demand
A
Sum of all individual demands in a market
