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प्रश्न
Demand for milk is an example of composite demand.
पर्याय
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.
A perfectly inelastic demand curve is parallel to 'Y' axis.
Define or Explain the concept
Perfectly elastic demand
State whether the following statements are True or False with reason:
Demand for medicine is inelastic.
Define or explain the following concept:
Increase in demand
Write short note:
Concept of demand
Distinguish between:
Joint/complementary demand and competitive demand.
State with reasons whether you agree or disagree with the following statements:
When price of Giffen goods fall, the demand for it increases.
What is market demand?
What is ex-ante demand?
