Types Of Demand Flashcards
1
Q
Derived demand…
A
the demand for a good or factor of production due to its use in making another good/service
2
Q
Composite demand…
A
is the demand for a good that has multiple different uses
3
Q
Joint demand…
A
when two complementary goods are consumed together
4
Q
Competitive demand…
A
I
5
Q
Joint supply…
A
when the production of one good involves the production of another
