Chapter 4 - How a Competitive Market Functions . 2.0 / 5 based on 1 rating ? EconomicsCompetitive marketsASAQA Created by: Nathan SCreated on: 28-04-13 16:30 What are the 5 main types of associated markets? (P45) Factor Markets, Joints Supply, Composite Demand, Complementary Goods Markets, Substitutes Markets. 1 of 6 Factor Markets A change in demand for a good will change demand for factors of production used to make it. 2 of 6 Joints Supply An increase in supply of a good will increase supply for the other good. 3 of 6 Composite Demand An increase in demand for a good will reduced supply supply of another. 4 of 6 Complementary Goods Markets An increase in demand for a good will increase demand for associated good. 5 of 6 Substitutes Markets An change in price or availability of substitutes affects the demand for another good. 6 of 6
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