--%>
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 : Most exceed the wages or specific

    Firms tend to offer wages which most greatly exceed the wages which workers would earn elsewhere to workers who have: (1) profit-sharing plans. (2) specific training. (3) prenuptial agreements. (4) non-compete clauses in their work contracts. (5) general training.

    		•
  • Q : Average Variable Cost Profit

    A purely competitive firm which hires more workers while the value of the marginal product of labor increases above the competitively set wage rate will absolutely experience increases in its: (i) overhead costs. (ii) profit per unit.

    		•
  • Q : Value of Marginal Product of Labor The

    The social value of the extra output by additional units of labor is: (1) marginal revenue product of labor. (2) price of labor. (3) average revenue product of labor. (4) value of the marginal product of labor. (5) marginal resource cost of labor.

    Q : Cost concept of business operation and

    Categories the cost concept of business operation and decision making?

    		•
  • Q : Explain why firms may close in Short Run

    Val Alvarado, an accountant, quit his $80,000 year job and bought an existing laundry through its earlier owner, he was Ricky White. The lease has five years stayed and needs a monthly payment of $4,000. Val's explicit cost amounts to $3,000 per month more than his

  • Q : Illustrates the environmental or

    Illustrates the environmental or external issues.

    		•
  • Q : Profit Maximization and the Demand for

    An increase within competitively-set wages tends to cause firms to adjust hence there are reductions into the: (1) amounts of labor most firms hire. (2) value of the marginal productivity of workers. (3) marginal profit from hiring labor. (4) technolo

    		•
  • Q : Learning-by-doing Firms may make use of

    Firms may make use of low prices to enter a market and gain market share therefore is can learn the intricacies of a particular product line or business. It is an illustration of: (1) limit pricing. (2) accommodation. (3) learning-by-

    		•
  • Q : Marginal resource cost of labor By

    By lying off three workers, total costs of a firm fall by $210 per day, indicating that the marginal: (w) revenue product of labor is $210. (x) revenue product of labor is $70. (y) resource cost of labor is $210. (z) resource cost of labor is $70.

    		•
  • Q : Illustrates the internal economies of

    Illustrates the internal economies of scale?

    		•