Advertisements
Advertisements
प्रश्न
Explain with reason whether you 'agree' or 'disagree' with the following statement:
There are many types of demands.
Advertisements
उत्तर
Yes, I agree to this statement. Types of Demand :
(i) Direct Demand : When a commodity is demanded to satisfy human wants directly, it is direct or conventional demand. For example, the demand for food, clothes have direct demand. Consumer goods have direct demand.
(ii) Indirect Demand : Indirect demand is also known as derived demand. When goods are demanded indirectly, i.e., to produce consumer goods, it is indirect demand. For example: the demand for factors of production is indirect demand.
(iii) Joint Demand : When two or more goods are demanded jointly to satisfy a single need, it is known as joint demand. For example : to make tea, water, sugar, tea powder, milk etc. is jointly demanded. The demand for complementary goods is joint demand.
(iv) Composite Demand : The demand for commodities, having alternative uses i.e. which is used for satisfying several want at a time, is composite demand. For example : the demand for electricity is composite demand.
(v) Competitive Demand : Competitive demand is when demand for a commodity competes with its substitutes. For example : tea and coffee have competitive demand.
APPEARS IN
संबंधित प्रश्न
Distinguish between expansion in demand and increase in demand.
The demand for salt is _____________.
A perfectly inelastic demand curve is parallel to 'Y' axis.
Distinguish between Individual demand and Market demand.
Distinguish between the following:
Direct demand and Indirect demand.
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 |
Define or Explain the concept
Perfectly elastic demand
State whether the following statements are True or False with reason:
Demand for medicine is inelastic.
Distinguish between Joint demand and Composite demand.
Define the following concept:
Demand
Define or explain the following concept:
Increase in demand
Explain the following concept:
Market demand schedule
Write short note:
Giffen's paradox
Write short note:
Concept of demand
Give an economic term:
A commodity which can be put to several uses.
Explain any four types of demand.
Complete the correlation.
Direct demand : Food and Mobiles : ______ : Land and Labour.
Distinguish between:
Joint/complementary demand and competitive demand.
Find the odd word out:
Useful products:
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.
Identity the pair of goods which are substitutes of each other:
Define joint demand.
Define composite demand.
An increase in the price of electricity will cause the demand for electric appliances to ______.
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?
Which statement explains price demand?
For normal goods, how does demand change with rising income?
What is direct demand?
