New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    Demand of a commodity for different uses is called

    ___
    A multiple demand Correct Answer Incorrect Answer
    B composite demand Correct Answer Incorrect Answer
    C derived demand Correct Answer Incorrect Answer
    D latent demand Correct Answer Incorrect Answer
    E Elastic demand Correct Answer Incorrect Answer

    Solution

    Composite demand occurs when a commodity is demanded for different uses. For example, sugar is used in food products, pharmaceuticals, and biofuels. Similarly, milk is in demand for drinking, making cheese, butter, and other dairy products. This type of demand indicates that the commodity has multiple applications.

    Practice Next