JAMB - Economics (2016 - No. 36)
The demand for two or more commodities to satisfy a particular want is _____?
Derived
Composite
Competitive
Joint
Spiegazione
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.