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प्रश्न
Explain any four types of demand.
Write a short note:
Types of demand
What are the types of demand?
Explain the types of demand.
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उत्तर
The following are the types of demand:
- Direct demand: It is the demand by the consumer for goods which satisfy their wants directly. They serve the direct consumption needs of the consumers. Thus, it is the demand for consumer goods. For example, demand for cloth, sugar, etc.
- Indirect demand: Indirect demand is also known as derived demand. It refers to demand for goods which are needed for further production. It is the demand for the producer's goods. Hence, all factors of production have indirect or derived demand. For example, demand for workers in a sugar factory is derived from indirect demand; clothes and a house are examples of direct demand.
- Complementary/Joint demand: When two or more goods are demanded jointly to satisfy a single want, it is known as joint or complementary demand. For example, cars and fuel, etc.
- Composite demand: The demand for a commodity which can be put to several uses is known as composite demand. For example, electricity is demanded for several uses, such as lights, fans, washing machines, etc.
- Competitive demand: It is demand for those goods which are substituted for each other. For example, tea or coffee, sugar or jaggery, etc.
Notes
Students should refer to the answer according to their preferred marks.
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संबंधित प्रश्न
Distinguish between expansion in demand and increase in demand.
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A perfectly inelastic demand curve is parallel to 'Y' axis.
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Distinguish between the following:
Direct demand and Indirect demand.
Explain with reason whether you 'agree' or 'disagree' with the following statement:
There are many types of demands.
Define or explain the following concepts (Any THREE):
Individual demand
Match the following Group ‘A’ with Group ‘B’:
| Group ‘A’ | Group ‘B’ |
| (a) Electricity | (1) Joint demand |
| (b) Perfectly elastic demand | (2) Lord Keynes |
| (c) Aggregate supply | (3) Prof. Pigou |
| (d) Propensity to consume | (4) Fixed deposits |
| (e) Higher interest rate | (5) Composite demand |
| (6) Demand curve parallel to ‘X’ axis | |
| (7) Natural resources |
State whether the following statements are True or False with reason:
Demand for medicine is inelastic.
Distinguish between Joint demand and Composite demand.
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Demand
Define or explain the following concept:
Increase in demand
Explain the following concept:
Market demand schedule
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Giffen's paradox
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A commodity which can be put to several uses.
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Direct demand : Food and Mobiles : ______ : Land and Labour.
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Find the odd word out:
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Distinguish between derived demand and composite demand.
Find the odd word out:
Types of demand:
Identify and explain the following concept:
Due to mandatory use of masks during corona epidemic the demand for mask-producing labour has increased.
State with reasons whether you agree or disagree with the following statements:
When price of Giffen goods fall, the demand for it increases.
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Define joint demand.
Define composite demand.
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The demand for goods which can be put to several uses is known as ______.
Electricity is an example of ______ demand.
Which is meant by derived demand?
What is market demand?
If all families together buy 10,000 litres of milk daily, what does this number represent?
What is ex-ante demand?
Which goods are in joint demand?
On what does derived demand depend?
What does 'composite demand' mean?
Which statement explains price demand?
For normal goods, how does demand change with rising income?
How does substitute goods’ demand react when the price of one rises?
What is direct demand?
