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प्रश्न
mention any two examples of composite demand.
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उत्तर
Two examples of composite demand are as follows:
Milk: Milk is a composite good since it has numerous applications and may be consumed in a variety of forms, including curd, ice cream, shakes, cheese, and so on.
Steel: It is a composite good since it may be used to make bus bodies, room coolers, autos, and other items.
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संबंधित प्रश्न
Demand for the commodity having multiple uses has elastic demand.
Discuss any four factors affecting price elasticity of demand.
Give reasons or explain the following statements
Demand for basic necessities is inelastic.
Consider the demand for a good. At price Rs 4, the demand for the good is 25 units. Suppose the price of the good increases to Rs 5, and as a result, the demand for the good falls to 20 units. Calculate the price elasticity.
The demand for salt is ______.
Fill in the blank with appropriate alternatives given below:
Income elasticity of demand for inferior goods is __________.
Give reason or explain the following statement:
Demand for commodity having multiple uses has elastic demand.
Give an economic term:
Elasticity resulting from a proportionate change in quantity demanded due to a proportionate change in price.
When change in price is greater than the change in quantity demand it is a case of elastic demand.
Who introduced the concept of elasticity of demand?
