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The demand for two or more commodities to satisfy a particular want is _____?

Economics
JAMB 2016

The demand for two or more commodities to satisfy a particular want is _____?

  • A. Derived
  • B. Composite
  • C. Competitive
  • D. Joint
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Correct Answer: Option D
Explanation

Joint demand refers to the relationship between two or more commodities or services when they are demanded together to satisfy one want. There is joint demand for cars and petrol, pens and ink, tea and sugar, etc. Jointly demanded goods are complementary.


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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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