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.
A modern corporation is owned by ...
\(\begin{array}{c|c} Price (N) & 20 & 16 \\ \hline \text{Quantity demanded} & 100 &am...
An increase in both the legal reserve ratio and discount rate has the effect of ...
Which of the following is an example of direct tax? ...
A minimum price legislation is also called ...
The Economic Commission for Africa was set up by the ...
Merchants banks perform all the following functions EXCEPT ...
The likely implication of the devaluation of a country's currency is that ...
The money that commands a higher market value than its face value is called ...