10 Questions
Which of the following correctly defines joint demand?
It refers to the demand for two or more goods which are used jointly or demanded together.
Which of the following goods have derived demand?
Steel, bricks, cement, stones, wood
What is the relationship between price and quantity demanded in joint demand?
There is an inverse relationship between price of one good and quantity demanded of other good.
What is composite demand?
Demand for goods that have multiple uses
Which of the following goods have composite demand?
Steel, electricity, milk
Which of the following is an example of joint demand?
Demand for bread
Which of the following is an example of derived demand?
Demand for steel
What is the relationship between the price of one good and the quantity demanded of the other good in joint demand?
Inverse relationship
Which of the following goods have composite demand?
Demand for steel
In case of composite demand, how does a slight change in price of a product affect its demand?
Large change in demand
Test your knowledge on joint demand and derived demand with this quiz! Learn about the relationship between goods demanded together and the concept of derived demand. Explore examples and understand the impact of price changes on demand.
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