The overall demand for crude oil for various uses is an e...
The overall demand for crude oil for various uses is an example of __________?
Derived demand
Competitive demand
Composite demand
Complementary demand
Correct answer is C
Composite demand is where goods have more than one use. An increase in the demand for one product leads to a fall in supply of the other. An example is milk which can be used for cheese, yoghurts, cream, butter and other products.
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The cost which firm will incur whether it is in production or not, is referred to as ...
In any economy, what is used as money is determined by? ...
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Which of the following item is not included in measuring national income by the income approach? ...