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प्रश्न
Demand for milk is an example of composite demand.
विकल्प
True
False
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उत्तर
This statement is True.
Explanation:
Demand for milk is an example of composite demand, which occurs when a good is demanded for multiple different uses. Milk is a good example of this, as it is used for direct consumption and in the production of various other products like cheese, butter, yogurt, and other dairy products.
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संबंधित प्रश्न
Distinguish between expansion in demand and increase in demand.
Distinguish between Joint demand and Composite demand.
Define or explain the following concept:
Increase in demand
Write short note:
Giffen's paradox
Explain any four types of demand.
Distinguish between derived demand and composite demand.
State with reasons whether you agree or disagree with the following statements:
When price of Giffen goods fall, the demand for it increases.
Which is meant by derived demand?
If all families together buy 10,000 litres of milk daily, what does this number represent?
Which statement explains price demand?
