distinguish between joint complementary demand and composite demand
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- A composite demand is a demand when the goods are demanded to satisfy several needs at a time. For example Demand for electricity.
- A complementary or joint demand is when two or more related goods are jointly demanded to satisfy a single need. For example computers and software, vehicles and tyres, etc.
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Joint or complementary demand:
1-When a commodity is jointly demanded with some other commodity, we call it joint demand.
2-For example-demand for pen and ink, demand for car and petrol,etc.
Composite demand:
1-The demand for a commodity which can be put to several uses is known as composite demand.
2-For example-coal can be used for heating, cooking and operating railway engine,etc.
1-When a commodity is jointly demanded with some other commodity, we call it joint demand.
2-For example-demand for pen and ink, demand for car and petrol,etc.
Composite demand:
1-The demand for a commodity which can be put to several uses is known as composite demand.
2-For example-coal can be used for heating, cooking and operating railway engine,etc.
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