Types of demand Flashcards
(6 cards)
1
Q
Examples of types of demand
A
complimentary demand, competitive demand, derived demand, composite demand
2
Q
what is complimentary demand
A
An increase in supply of one is an increase in demand for another.
E.G. popcorn and cinema tickets
3
Q
what is competitive demand
A
Increase in supply in one, decrease in demand for the other. PS4 and XBOX
4
Q
what is derived demand
A
Increase in demand in one, decrease in demand for the other. Houses and bricks
5
Q
what is composite demand
A
Increase in demand in one, increase in supply in the other. Cheese and yoghurt
6
Q
Type of supply
A
Joint supply - increase in supply in 1, increase in supply in the other. Beef and Leather
