New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    An Increase in the need for wood because of the increase

    in the need for furniture is the example of
    A Composite Demand Correct Answer Incorrect Answer
    B Joint Demand Correct Answer Incorrect Answer
    C Price Demand Correct Answer Incorrect Answer
    D Derived Demand Correct Answer Incorrect Answer

    Solution

    Derived demand is defined as when the want for one good or service happens because of the want for another good or service. 

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