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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
Define the following concept:
Demand
Give an economic term:
A commodity which can be put to several uses.
Complete the correlation.
Direct demand : Food and Mobiles : ______ : Land and Labour.
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.
Define joint demand.
Define composite demand.
If all families together buy 10,000 litres of milk daily, what does this number represent?
What is ex-ante demand?
What does 'composite demand' mean?
