If the demand for one commodity excludes another, it is s...
If the demand for one commodity excludes another, it is said to be
Complementary demand
Competitive demand
Composite demand
Derived demand
Correct answer is B
Competitive demand is a market situation where a prospective buyer could choose between two competing products and still receive roughly the same level of satisfaction. The selection of one product which are normally substitutes would lead to the exclusion of the other product. Example if Mr X intends to buy detergent, he can either choose to buy omo or sunlight detergent but not the two. Choosing between these two alternatives is what is referred to as competitive demand.
Census of population is usually conducted every ...
Charging different prices for the same commodity is a feature of a ...
Which of the following is NOT a function of marketing boards in Nigeria? ...
Price control can be defined as the fixing by Government of maximum or minimum price of ...
Total cost is the addition of ...
Goods for which demands rises as income rises are ...
The malthusian theory of population is best illustrated when ...