--%>
Assignment Help - homework help

Illustrates the different kinds of Demand

Illustrates the different kinds of Demand?

E

Expert

Verified

Various types of demand are as follows:

Joint demand:
While two or more commodities are jointly demanded at similar time to satisfy a particular want, it is termed as joint or complimentary demand. As like demand for vegetables for making vegetables soup.

Composite demand:
The demand for a commodity that can be put for some uses as demand for electricity

Direct and Derived demand:
Demand for a commodity that is for a direct consumption is termed as direct demand. For example: food, cloth. While the commodity is demanded as outcome of the demand of other commodity, it is termed as derived demand. For example: demand for tyres depends on demand of motors and many vehicles.

Industry demand and company demand:
Demand for the product of exact company is company demand and whole demand for the products of particular industry that includes number of companies is termed as industry demand.

   Related Questions in Managerial Economics

  • Q : Find demand when Supply and Demand

    Suppose that the auto started began at the intersection of S0 and D0, and then Congress passed a main personal income tax cut. So, how will it affect the auto market?: (w) No change. (x) Demand shifts to D2. (y) Demand shifts to D

    		•
  • Q : Influenced demand for labor When the

    When the demand for labor influenced by the minimum wage is wage elastic, increasing the minimum wage would: (w) increase total wages received by low wage workers. (x) reduce total wages received by low wage workers. (y) not affect th

    		•
  • Q : Determine loss in curve of profit or

    As is given figure below. Assume that the prevailing price is P1 and the firm is now producing its loss-minimizing quantity. Determine the area which shows the loss: w) P2deP1. x) P3cbP1. y) P3caP0

    		•
  • Q : Explain the Opinion Survey method of

    Explain the Opinion Survey method of Demand Forecasting.

    		•
  • Q : Explain elements of managerial

    Illustrates the elements of managerial economics as a tool for decision making?

    		•
  • Q : Credentialism and Occupational Licensing

    Occupational licensing often requires qualifications with small relevance for performance in a specific position before an individual can legally be hired. Artificial and inefficient barriers to the practice of specific occupations, such as dog groome

    		•
  • Q : Introduction of the term Margin of

    Provide a brief introduction of the term Margin of Safety?

    		•
  • Q : Opportunity costs of purely financial

    By a purely financial perspective, you must stop going to school while you: (w) graduate from college. (x) have to take out educational loans at interest rates which exceed the inflation rate. (y) face opportunity costs of education exceeding the expe

    		•
  • Q : Explain the money cost concept briefly

    Explain the money cost concept briefly.

    		•
  • Q : Forecasting demand what are the

    what are the criteria for good forecasting

    		•