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Give economic term: A commodity which can be put to several uses ______. - Economics

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Give economic term:

A commodity which can be put to several uses ______.

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Solution

A commodity which can be put to several uses composite demand.

Explanation:

The demand for a commodity which can be put to several uses is known as composite demand.

For example, Electricity is demanded several uses such as light, washing machines, etc.

Concept: Demand Analysis
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Balbharati Economics 12th Standard HSC Maharashtra State Board
Chapter 3.1 Demand Analysis
Exercise | Q 2. (3) | Page 25
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