WAEC - Economics (2022 - No. 49)
The increase in the demand for a commodity may lead to a decrease in the demand for another if both are
in complementary demand
of the same quality
in composite demand
in competitive demand
Penjelasan
Competitive demand is also known as subtituted demand. There are alternative commodities which can satisfy similar wants wants i.e they posses identical utilities. An increased in demand for one will lead to a decreased demand for the other.