Composite Demand: When a commodity can be used for more than one purpose, then such type of demand is known as Composite Demand. (bathing, drinking, cooking). Derived Demand: The k... Composite Demand: When a commodity can be used for more than one purpose, then such type of demand is known as Composite Demand. (bathing, drinking, cooking). Derived Demand: The kind of demand for a commodity, which depends on the demand for other goods, is known as Derived Demand. Direct Demand: When a commodity directly satisfies the demand of consumers, then its demand is known as Direct Demand. For example, demand for books, stationery, clothes, food. Competitive Demand: When two commodities are close substitutes of each other and an increase in the demand for one commodity will decrease the demand for the other commodity, then the demand for any one of the commodities is known as Competitive Demand. Alternative Demand: Demand for a commodity is known as alternative demand when it can be satisfied by using different alternatives.

Understand the Problem

The text defines various types of demand in economics, explaining concepts such as Composite Demand, Derived Demand, Direct Demand, Competitive Demand, and Alternative Demand. It provides examples for clarity.

Answer

Composite demand is when a commodity can be used for multiple purposes.

Composite demand is when a commodity can be used for multiple purposes, such as water being used for bathing, drinking, and cooking.

Answer for screen readers

Composite demand is when a commodity can be used for multiple purposes, such as water being used for bathing, drinking, and cooking.

More Information

Examples of composite demand include commodities like water and milk, as they serve various purposes. This type of demand can influence market supply and pricing strategies.

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