Question on: JAMB Economics - 2022
The increase in the demand for a commodity may lead to a decrease in the demand for another if both are
A
in complementary demand
B
of the same quality
C
in composite demand
D
in competitive demand
Ask EduPadi AI for a detailed answer
Correct Option: D
Option D is the correct answer.Â
Competitive demand, also referred to as substituted demand. There are substitute commodities that have comparable utility and can satisfy similar wants. When the demand for one increases, the desire for the other decreases.
Add your answer
Please share this, thanks!
No responses