(11) Two or more goods demanded jointly to satisfy a single want.
(a) Direct
(b) indirect
(c) joint complementary
(d) composite demand
Options : (1) a ,d (2) a, b, c (3) a, b
(4) only
Answers
Answer:
Joint complementary is the correct answer
Answer:
Joint complementary is the correct answer
Explanation:
When two goods are complementary, they experience joint demand—the demand for one good is linked to the demand for another good. Therefore, if a higher quantity of one good is demanded, a higher quantity will be demanded of the other, and vice versa.
Are joint demand and complementary demand the same?
Joint demand is the combined demand for two or more interrelated goods. Thus, the demand for one product affects the demand for other interconnected products. Also referred to as supplementary demand; products that show joint demand are called complementary goods.
Joint demand is the combined demand for two or more interrelated goods. Also referred to as supplementary demand; products that show complementary demand are called complementary goods.
A supplemental demand graph shows the relationship between the price of one product and the demand for another product. It's a downhill slope. If the price of the first product falls, the demand for the second product increases.
Despite the overlapping demand for two complementary goods, the products are helpful even on their own. They are not completely dependent on each other.
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