Economics
JAMB 2016
The overall demand for crude oil for various uses is an example of __________?
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A.
derived demand
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B.
competitive demand
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C.
composite demand
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D.
complementary demand
Correct Answer: Option C
Explanation
Composite demand is where goods have more than one use. An increase in the demand for one product leads to a fall in supply of the other. An example is milk which can be used for cheese, yoghurts, cream, butter and other products
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