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When an increase in the price of a commodity lead to a fall In the...

Economics
JAMB 2024

When an increase in the price of a commodity lead to a fall In the demand for another, the demand for the two commodities are said to be

  • A. competitive
  • B. joint
  • C. composite
  • D. derived
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Correct Answer: Option B
Explanation

Joint demand refers to goods that are typically consumed together. If the price of one increases, it can lead to a decrease in demand for the complementary good. E.g., the increase in the price of cream (a complementary good) leads to a fall in the demand for coffee,


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