--%>
Assignment Help - homework help

Illustrates the different kinds of Demand

Illustrates the different kinds of Demand?

E

Expert

Verified

Various types of demand are as follows:

Joint demand:
While two or more commodities are jointly demanded at similar time to satisfy a particular want, it is termed as joint or complimentary demand. As like demand for vegetables for making vegetables soup.

Composite demand:
The demand for a commodity that can be put for some uses as demand for electricity

Direct and Derived demand:
Demand for a commodity that is for a direct consumption is termed as direct demand. For example: food, cloth. While the commodity is demanded as outcome of the demand of other commodity, it is termed as derived demand. For example: demand for tyres depends on demand of motors and many vehicles.

Industry demand and company demand:
Demand for the product of exact company is company demand and whole demand for the products of particular industry that includes number of companies is termed as industry demand.

   Related Questions in Managerial Economics

  • Q : Government and Labor Assume that male

    Assume that male nurses are paid more than female nurses for same work. When an “equal pay for equal work” law is enforced and enacted, it may: (w) decrease the wages of male nurses. (x) not influence the wages of female nurses. (y) increa

    		•
  • Q : Merits and demerits of Scarcity

    What are the merits and demerits of Scarcity Definition of economics?

    		•
  • Q : Determined equilibrium wage from the

    Within a purely competitive labor market, there the firm: (w) sets the wage that the household should accept. (x) should accept the wage demanded by the household. (y) and household arrive at the wage by bargaining. (z) and household should take the e

    		•
  • Q : Increment in demand raises the

    An increase within the demand for Swiss cheese will absolutely raise the equilibrium as:  (w) price when the supply of Swiss cheese shrinks over the same period. (x) quantity when the supply of cheese shrinks during the same peri

    		•
  • Q : Total Labor Income by Elasticity of

    When the demand for labor is wage elastic, raises in wage rates cause total labor income to: (w) increase. (x) decrease. (y) remain the same. (z) fluctuate erratically. I need a go

    		•
  • Q : Labor-Leisure Trade-offs The relative

    The relative price of leisure rises while there are increases within the: (w) supply of labor. (x) wage rate. (y) cost of living. (z) marginal tax rate on income. Can someone explain/help me with best solution abou

    		•
  • Q : Explain the follow-up pricing Explain

    Explain the follow-up pricing.

    		•
  • Q : Advantages and Disadvantage of Naïve

    What are the advantages and disadvantage of naive method?

    		•
  • Q : Illustrates the term shot run

    Illustrates the term shot run production function?

    		•
  • Q : States the term Shift in Demand States

    States the term Shift in Demand?

    		•