Advertisements
Advertisements
Question
Demand for milk is an example of composite demand.
Options
True
False
MCQ
True or False
Advertisements
Solution
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.
shaalaa.com
Is there an error in this question or solution?
APPEARS IN
RELATED QUESTIONS
Distinguish between Individual demand and Market demand.
Define the following concept:
Demand
Write short note:
Giffen's paradox
Write short note:
Concept of demand
Explain any four types of demand.
Define joint demand.
Electricity is an example of ______ demand.
What is market demand?
What is ex-ante demand?
Which statement explains price demand?
